Mouch v. Indiana Rolling Mill Co.

On and prior to June 27, 1917, the appellant was the owner of the major portion of the common stock of appellee company; on that date, a preliminary contract was entered into between appellant and one Ingersoll for the sale of said stock so owned and held by appellant. On July 12, 1917, the contract of sale was reduced to its final form and terms and duly signed by said parties. In said contract so thus signed was the following: “It is further agreed by the parties that if there be any income tax on said corporation for the year ending June 30, 1917, said Mouch shall pay 72.8 per cent of said…