Dinsdale v. Sprague Tire & Rubber Co.

This is a suit in equity to cancel a contract for the purchase of capital stock issued by a corporation, to require the surrender of a note for half the purchase price, and to recover back the amount paid for the other half. Plaintiff is the purchaser and defendant is the corporation that issued and sold the stock. The sale contract was executed July 24, 1919. The stock purchased consisted of 100 shares, each of the par value of $100. The purchase price Avas $7,500, paid by two notes of $3,750 each, due in 6 months. The right of plaintiff to the relief demanded is based on Avritten terms of…