Phelps v. Stewart
Supreme Court of Vermont
This was an action of assumpsit, wherein the plaintiff declared, in substance, as follows: that, on the first day of January, 1828, the plaintiff owned and possessed one hundred and fifty two shares, amounting to the sum of $1520, of the stock of the Vermont Fire Insurance Company, and that the defendants were also, severally, owners of other shares of said stock ; that afterwards, on the eleventh day of February, 1828, the plaintiff was desirous of dissolving his connexion…
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This was an action of assumpsit, wherein the plaintiff declared, in substance, as follows: that, on the first day of January, 1828, the plaintiff owned and possessed one hundred and fifty two shares, amounting to the sum of $1520, of the stock of the Vermont Fire Insurance Company, and that the defendants were also, severally, owners of other shares of said stock ; that afterwards, on the eleventh day of February, 1828, the plaintiff was desirous of dissolving his connexion with said company and withdrawing his funds therefrom, and that the defendants, to induce the plaintiff to continue a…
1Opinion of the Court
The opinion of the court was delivered by
Royce, J.
— The defence in this case was placed upon two grounds : 1. The want of consideration for the promise declared on ; — 2, The statute of limitations.
The plaintiff was bound to prove the consideration alleged in His declaration; and this was a promise, on his part, that *262the defendants should have all the profits upon his stock for the year ending January 1, A. D. 1829. Such an engage- ' ment does not conclusively appear from the written contract of February 11th, A. D. 1828, for the reason, that that contract was signed by the defendants alone,…
2Cited by18 opinions
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- Burton v. StevensSupreme Court of Vermont · 1852
- McManaman v. HinchleySupreme Court of Minnesota · 1901
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