Murray v. Standard Pecan Co.

In September, 1912, R. M. Nicholson, the authorized .agent to sell stock of the Standard Pecan Company, a corporation, sold Mrs. A. G. Murray 100 shares of stock of the corporation at $10 per share. He wrote on the back of the stock certificate an agreement that the Standard Pecan Company would re-purchase the stock at the end of three years at $11 per share, and signed the corporation’s name to it. Mrs. Murray died within three years of the date of the sale, and when the three years expired her heirs gave the Standard Pecan Company written notice of their election to re-sell the stock to the…