Patterson v. Beard

We will first state, in narration form, the matters plead by plaintiff as a cause of action. On March 30, 1937, defendant orally stated and represented to plaintiff that if he, plaintiff, would immediately resign his position as superintendent of schools at Grinnell, Iowa, and would remove to Peoria, Illinois, and there assist defendant in operating a business college that defendant owned, the defendant would sell to plaintiff for $12,000 a forty per cent interest in the college and would pay plaintiff an annual salary of $4,400 which would be in addition to forty per cent of the net profits.…