Stein v. Strathmore Worsted Mills
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Superior Court on December 21, 1912, against a corporation engaged in manufacturing textile products, alleging that on October 28, 1908, the plaintiff was employed as the representative and selling agent of the defendant under an agreement by which he was to receive $5,000 a year and eight per cent of the net profits; that the plaintiff rendered the required services and received such salary and $1,124.34 represented by the defendant to be eight…
Read the full summary
Bill in equity, filed in the Superior Court on December 21, 1912, against a corporation engaged in manufacturing textile products, alleging that on October 28, 1908, the plaintiff was employed as the representative and selling agent of the defendant under an agreement by which he was to receive $5,000 a year and eight per cent of the net profits; that the plaintiff rendered the required services and received such salary and $1,124.34 represented by the defendant to be eight per cent of the net profits until December 1, 1910, when a new contract was made under which the plaintiff was to…
1Opinion of the CourtRugg, C. J.
The chief question presented by this case is the meaning of the words “net profits” in a contract between the plaintiff and the defendant, whereby the former became a selling agent for the defendant, a textile manufacturer, at a stated annual salary and in addition a percentage on net profits. “Net profits” have a fairly well defined significance in law. Profits in a going business implies a comparison between two dates. In the contract between these parties those dates are the begin*89ning and the end of each of the two years as to which the plaintiff seeks to recover his percentage. As applied…
2Cases cited3 opinions
- City of Knoxville v. Knoxville Water Co.Supreme Court of the United States · 1909
- Thurston v. HamblinMassachusetts Supreme Judicial Court · 1908
- Stone v. Wright Wire Co.Massachusetts Supreme Judicial Court · 1908
3Cited by21 opinions
- Assessors of Quincy v. Boston Consolidated Gas Co.Massachusetts Supreme Judicial Court · 1941
- City of Boston v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1921
- Boston Gas Co. v. Assessors of BostonMassachusetts Supreme Judicial Court · 1956
- Attorney General v. Trustees of Boston Elevated Railway Co.Massachusetts Supreme Judicial Court · 1946
- F. A. Bartlett Tree Expert Co. v. HartneyMassachusetts Supreme Judicial Court · 1941
16 more not listed; retrieve them via the Exa API.