Jelenk v. Albert

This action was instituted to set aside tho transfer to the defendant Albert of one-third of the corporate stock of the Jelenk Theatre Company, Inc., alleged to have been induced through fraud and false representations. At the time of the transfer Albert was an officer of the corporation and the owner of one-third of its stock. Practically the entire assets of the corporation were the Albany Theatre premises and its equipment, upon which there were incumbrances amounting to $44,750. The plaintiff testified that he transferred his stock holdings in the Jelenk Theatre Company, Inc., to Albert…