Baker v. Ferrel

Appellants Ferrel Ordnance Inc. and Clyde Ferrel appealed from a judgment against them for $1,570. Respondent is a draftsman who between 1939 and 1942, did certain work for the appellants. Appellant corporation was incorporated to take over the assets and business of Ferrel Ordnance Trust (a Massachusetts trust). 900 shares of the capital stock of appellant corporation were issued to re spondent upon his signing the release in October, 1940, which is hereinafter discussed. On January 9, 1942, appellant Ferrel gave respondent a memorandum in writing acknowledging an agreement to give…