Johnson v. Schultz

The Brodie Sales Co., a corporation, was engaged in the mercantile business on Sprague avenue in the city of Spokane. Its capital stock was $5,000, divided into five thousand shares. Henry W. Schultz owned twenty-five hundred shares. On November 8, 1923, he sold and delivered all of his stock to Rudolph W. Johnson. Johnson, the plaintiff in this action, alleges in his complaint that he paid $3,500 for the stock and in consideration of the promise on the part of Schultz not to engage in a competing business in Spokane. He further alleges in his complaint of December 5, 1924, that the defendant…