Felker v. Monroe Hotel Co.

J. II. Felker was. sued upon the following contract of subscription: -

“$5000.00. Monroe, Ga., -, 1920.

“In consideration of the promises of others for the purposes hereinafter shown, I hereby subscribe five thousand dollars for' 50 shares of stock in the company to be chartered “for the purpose of building, owning, and operating a modern hotel in Monroe, Ga., par value of the stock to be $100 per share. No subscription binding until $75,000 in solvent subscriptions have been made. The hotel to cost not less than $100,000.00. Terms: 10% cash when charter is applied for, 30% when contract is…