Learmouth v. Caledonia County Cooperative Creamery Assoc., Inc.

The plaintiff, a farmer and milk producer, seeks to recover of the defendant, a cooperative creamery, the sum paid for a share of its capital stock, ■ claiming that, he ivas induced to buy the stock by the promise of the defendant to buy it back if the plaintiff became dissatisfied and wanted his money back. Verdict and judgment were for the plaintiff, and the defendant has come here upon exceptions.

Each patron of the creamery was required to buy a share of stock. Its by-laws provide:

“Any stockholder who desires to dispose of his share or shares of common stock shall first offer to sell the…