Green v. Higham
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. — Hon. H. D. Wood, Judge. (1) The pooling contract was without consideration and was purely voluntary. (2) It is too vague and indefinite in its terms to be susceptible of enforcement. (3) No time is limited, by the terms of the contract, for the duration of the pool, and hence it was terminable at the will of any party to it.
Read the full summary
Appeal from St. Louis City Circuit Court. — Hon. H. D. Wood, Judge. (1) The pooling contract was without consideration and was purely voluntary. (2) It is too vague and indefinite in its terms to be susceptible of enforcement. (3) No time is limited, by the terms of the contract, for the duration of the pool, and hence it was terminable at the will of any party to it. Cook on Stockholders, secs. 610 and 612; Thompson’s Commentaries on the Law of Corporations, secs. 6410, 644. (4) No pool was in fact ever formed under the contract. (1) The essential idea of the contract was not to vote the…
1Opinion of the CourtGantt, J.
This is a suit for an accounting and the balance thereon alleged to be due plaintiff for his share of certain royalties collected hy defendant from the American Brake Company.
In March or April, 1891, defendant sold Arthur Green, a brother of plaintiff, 260 shares of the Consolidated Brake Company. Arthur Green testifies that defendant represented that the last mentioned company was in a flourishing condition and he might expect satisfactory dividends within a year. Defendant denies this.
In 1892 defendant sold to plaintiff,- through his brother Arthur Green, 140 shares of Consolidated Brake…
2Cited by12 opinions
- Goss v. LaninSupreme Court of Iowa · 1915
- State Ex Inf. Miller v. St. Louis Union Trust Co.Supreme Court of Missouri · 1934
- Strong v. WhybarkSupreme Court of Missouri · 1907
- BACKERS-BEHRENS-GIST LUMBER COMPANY v. AdamsMissouri Court of Appeals · 1958
- Central Trust Co. v. CreelCourt of Appeals of Kentucky · 1919
7 more not listed; retrieve them via the Exa API.