Cravens v. Climax Engineering Co.

STONE, Circuit Judge.

From a judgment entered on directed verdict in favor of the defendant in a suit upon a contract, this appeal is brought.

In 1922, appellant was an engineer and industrial counselor and appellee was a corporation organized under the laws of Delaware, apparently doing its business mainly in Iowa. At that time, the capital stock of appellee consisted of 5,000 shares of preferred stock, with a par value of $100, and 10,000 shares of common stock without par value. At that time, the situation of the company was such that it desired the' services of the appellant to take virtual…