U. S. Fire Apparatus Co. v. G. W. Baker Machine Co.
Court of Chancery of Delaware
Bill for Specific Performance. The bill is one for the specific performance of a contract to buy shares of stock of a corporation. The complainant owns 1,800 shares of the Diamond Manufacturing Company, being sixty percent, of the outstanding capital stock, and the Diamond Manufacturing Company owns, by assignment from William J. Jones, certain claims to a patent for a certain machine for treating leather.
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Bill for Specific Performance. The bill is one for the specific performance of a contract to buy shares of stock of a corporation. The complainant owns 1,800 shares of the Diamond Manufacturing Company, being sixty percent, of the outstanding capital stock, and the Diamond Manufacturing Company owns, by assignment from William J. Jones, certain claims to a patent for a certain machine for treating leather. By the bill the complainant claims that the defendant agreed to purchase from it these shares of stock in order to control the company owning the claims for patents, and submits as proving…
1Opinion of the Court
The Chancellor.
This being a bill filed by a vendor to enforce specific performance by the vendee of an agreement for the sale of shares of stock of a corporation, the jurisdictional question must first be considered. In this State, in two reported cases, the power and duty of the Chancellor to decree specific performance of agreements concerning property other than real estate was considered. The first one, Satterthwait v. Marshall, 4 Del. Ch. 337, 349, was a bill to compel an assignment of a patent. There Chancellor Bates explicitly asserted the power to grant the relief, the inadequacy of…
2Cases cited9 opinions
- Jones v. NewhallMassachusetts Supreme Judicial Court · 1874
- Bumgardner v. LeavittWest Virginia Supreme Court · 1891
- Sill v. Kentucky Coal & Timber Development Co.Court of Chancery of Delaware · 1916
- Hissam v. ParrishWest Virginia Supreme Court · 1896
- Satterthwait v. MarshallCourt of Chancery of Delaware · 1872
4 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Belle Isle Corporation v. MacBeanCourt of Chancery of Delaware · 1946
- Rhode Island Hospital Trust Co. v. AnthonySupreme Court of Rhode Island · 1928