Martindell v. Fiduciary Counsel, Inc.

The question is whether complainant or defendant Miss Mildred L. Martindell is entitled to a dividend of $100 a share on 27 shares of stock of Fiduciary Counsel, Inc., declared December 30th, 1940. The parties had entered into an agreement dated October 25th, 1939, which recited their desire that the defendant should have an option to purchase the stock from the complainant:

"Now therefore, the seller [complainant] agrees to sell and transfer said 27 shares of stock of Fiduciary Counsel, Inc., to the buyer [defendant] for the price and sum of $5,000 at any time within five years from the date…