Boardman v. Cutter
Massachusetts Supreme Judicial Court
Contract for. breach of an agreement to purchase shares of stock in a corporation. Answer: 1. A general denial. 2. The statute of frauds. Trial in the Superior Court, without a jury, before Putnam, J., who found the following facts: The plaintiff was in the employ of a firm in Lowell, consisting of the defendant and one Walker, who, in 1875, being desirous of forming a corporation, applied to the plaintiff to take ten shares of the stock of said corporation.
Read the full summary
Contract for. breach of an agreement to purchase shares of stock in a corporation. Answer: 1. A general denial. 2. The statute of frauds. Trial in the Superior Court, without a jury, before Putnam, J., who found the following facts: The plaintiff was in the employ of a firm in Lowell, consisting of the defendant and one Walker, who, in 1875, being desirous of forming a corporation, applied to the plaintiff to take ten shares of the stock of said corporation. The plaintiff at first-declined to take any stock, whereupon the defendant said to him, “ You run no risk in taking it; you take the…
1Opinion of the CourtAmes, J.
The defendant’s promise was in substance a contract, in a certain contingency, to purchase the stock of the plaintiff. The company was about to be formed and organized as a corporation, and the defendant was desirous, in order to complete the organization, to prevail upon the plaintiff to be one of the stockholders, to the extent of one thousand dollars. Among the inducements to the plaintiff to subscribe to that extent was the assurance of the defendant that he would purchase the shares at cost, less the interest, at any time that the plaintiff should be desirous to sell them. The plaintiff…
2Cases cited1 opinion
- Somerby v. BuntinMassachusetts Supreme Judicial Court · 1875
3Cited by16 opinions
- Ansley v. HightowerSupreme Court of Georgia · 1904
- Illinois-Indiana Fair Ass'n v. PhillipsIllinois Supreme Court · 1927
- Armstrong v. OrlerMassachusetts Supreme Judicial Court · 1915
- Sprague v. HosieMichigan Supreme Court · 1908
- Davis v. ArnoldMassachusetts Supreme Judicial Court · 1929
11 more not listed; retrieve them via the Exa API.