Elgin v. Snyder
Oregon Supreme Court
From Marion: WILLIAM GALLOWAY, Judge. Statement by Mr. Justice Bean. This is a suit by Charles F. Elgin against S. H. Snyder and Laura Snyder, his wife, to rescind a contract, whereby plaintiff conveyed to defendant S. H. Snyder 46 acres of -land, valued at $2,000, in consideration of 35 shares' of stock in the Salem Box & Lumber Company, a corporation, of the par value of $100 per share, on the ground of fraud. From a decree in favor of defendants, plaintiff appeals.
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From Marion: WILLIAM GALLOWAY, Judge. Statement by Mr. Justice Bean. This is a suit by Charles F. Elgin against S. H. Snyder and Laura Snyder, his wife, to rescind a contract, whereby plaintiff conveyed to defendant S. H. Snyder 46 acres of -land, valued at $2,000, in consideration of 35 shares' of stock in the Salem Box & Lumber Company, a corporation, of the par value of $100 per share, on the ground of fraud. From a decree in favor of defendants, plaintiff appeals. Plaintiff alleges, as the gist of his complaint, that said defendant, his agents, servants, and associates, who were the…
1Opinion of the CourtJustice Bean
From the evidence it appears that the Salem Box & Lumber Company was an infant industry. Its parents, the incorporators, seemed to have had faith in its future development. Its success depended in a great measure upon faith and credit. The capital was limited, and instead of growing to huge proportions the industry pined away and died.
1. This contract, in controversy for the exchange of stock for land, was made about October 19, 1907. Plaintiff entered into active management of the business, assisted in increasing the debts of the company, and, as he states, found out in a short time that the…
2Cases cited5 opinions
- Scott v. WaltonOregon Supreme Court · 1898
- Clarno v. GraysonOregon Supreme Court · 1896
- Crossen v. MurphyOregon Supreme Court · 1897
- Vaughn v. SmithOregon Supreme Court · 1898
- Sievers v. BrownOregon Supreme Court · 1899
3Cited by8 opinions
- Cooper v. Hillsboro Garden TractsOregon Supreme Court · 1915
- Ward v. JensonOregon Supreme Court · 1918
- Whitney v. BissellOregon Supreme Court · 1915
- Raasch v. GouletNorth Dakota Supreme Court · 1929
- Detroit Vapor Stove Co. v. J. C. Weeter Lumber Co.Utah Supreme Court · 1923
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