Mt. Pleasant Coal Co. v. Watts

Action by appellee against appellants to recover damages for a breach of a verbal contract entered into between him and the individual appellants, under which contract appellee agreed to assign a 30-year coal lease that he owned on lands in Vigo County to a corporation to be organized and formed by them.

It is averred in the complaint that under said contract said individual appellants, on or about September 1, 1922, promised and agreed with appellee that, if he would assign said lease, they would form a corporation with a capital stock of $25,000, issued and paid up, and would set aside and…