Merchants' Nat. Bank of Mobile v. Roche

(after stating the case).

It is perfectly clear, from the recitals and provisions of the contract, that its purpose and effect was to confer on Milling the power of control of the corporation in the conduct of its business to the end of improving and rehabilitating its business, and if instead of using this power to that end, he fraudulently used it to wreck and destroy the business, this constituted a breach of the contract, conferring on the complainant a right of action which he could enforce in an action at law, and the measure of his damages would be the value of the stock fixed by the…