Wikiosco, Inc. v. Proller

The question here is whether the complaint states facts sufficient to constitute a cause of action.

The complaint alleges an oral agreement between defendant and two other erstwhile coadventurers whereby among other things they mutually agreed to organize the plaintiff business corporation,. and that each would invest therein as a stockholder an equal one third of $50,000 in its capital and that a *240part of such investment would be constituted by a conveyance by each of them to the plaintiff of the interest which they agreed to acquire in the purchase of a summer resort hotel to be owned and…