First National Bank of Fairchild v. Hizer

It is undisputed that defendant subscribed for stock in the Wisconsin Canned Food Company in the sum of $1,000. If this subscription was made with the agreement, and understanding that it should not.be binding unless sufficient subscriptions to the stock to aggregate $86,000, together with the $50,000 raised upon the guaranty note of the company, were made, then the subscription was a conditional one and not binding unless it appears that the required amount was subscribed. Hodge v. Smith, 130 Wis. 326, 110 N. W. 192. The principally contested issue upon the trial was whether the requisite…