Colt v. Fradkin

The plaintiff sues for specific performance of an oral agreement by each of the defendants to transfer to him 20,000 shares of stock in the Logic Corporation (Logic) for $1,000. The matter was referred to a master,who heard testimony and filed a report and a summary of evidence. An interlocutory decree was entered confirming the report, and a final decree ordered the defendants to transfer the stock to the plaintiff. The defendants appeal from the final decree.

We summarize the facts found by the master. The plaintiff, a New York stockbroker, had bought and sold stock for the defendants, who…