Muir v. Schultz

Plaintiff, trustee in bankruptcy of Clover Creamery Company, a corporation, sued to recover of defendant the purchase price of 500 shares of the capital stock. In a trial without a jury defendant had judgment. Plaintiff has appealed.

Defendant subscribed for the stock, and the certificate for the shares was issued and delivered to and accepted by him. At the same time defendant gave to the corporation his promissory note for the price, $5,000, payable in 90 days with interest. The note was in common form, except there was written on the bottom of it, “This note taken for plumbing and heating,…