Teletransmissions, Inc. v. David

There was no error in the judgment dismissing the bill by which the plaintiff corporation sought to have the defendants compelled to return to the corporation certain shares of its stock. The judge found that when the plaintiff was incorporated the stock was issued at a considerable discount to the defendant Nathan H. David’s straw, the codefendant Stephen David (Nathan’s son), as consideration for the defendant’s oral agreement to act as a “communication consultant and advise the [plaintiff] in matters relating to the cable television industry” for an unspecified period of time; the…