Hatcher-Powers Shoe Co. v. Hitchens

Opinion of the Court by

Judge Willis

Reversing.

The Hatcher-Powers Shoe Company sued C. S. Hitch-ens upon a writing by which it was agreed that “the undersigned, in consideration of their mutual promises and agreements do severally agree to and with each other and with H. W. Hatcher, O. P. Powers and James Hatcher, the promoters of ■ said corporation, that they will subscribe for and they do hereby severally subscribe for, the number of shares of capital stock of said company set opposite their respective names.” It was alleged in the petition that prior to and in contemplation of the…