McKellar v. Hazen

In this suit the plaintiff alleges that on or about September 1, 1935, he entered into an oral agreement with Robert M. Pitt, Junior, now deceased, hereinafter referred to as the decedent, who was then the owner of substantially all of the capital stock of Robert M. Pitt Company, Incorporated, hereinafter referred to as the corporation. The plaintiff asserted that the agreement was based upon the following conversation between the plaintiff and the decedent: The decedent said, “Bill, my company, like many others in the wool business, has lost practically all its capital the last two years. If…