In Re Estate of Miller

Julius J. Olson, Justice.

On May 24, 1928, C. C. Holmes and one Miller entered into an option contract under the terms of which Holmes ivas given the privilege of purchasing 113 shares of stock in Miller & Holmes, Inc. for |71,218.50. At the time of making the contract Holmes paid Miller |3,500.92. This sum, in addition to being consideration for the option, might, at the election of Holmes Avithin the option period, be used for the purchase of a lesser number of shares at the stipulated price of $630.25 per share. If the option was exercised, Holmes was to be allowed five per cent interest…