Ruder v. Lincoln Rochester Trust Co.

Judgment and order unanimously reversed on the law and facts and a new trial granted, without costs of this appeal to either party. Memorandum: This action was brought to compel specific performance of an alleged contract for the sale and purchase of shares of stock of a corporation. “ The remedy of the specific performance of contracts is purely equitable, given as a substitute for the legal remedy of compensation, whenever the legal remedy is inadequate or impracticable”. (4 Pomeroy, Equity Jurisprudence [5th ed.], § 1401, p. 1033.) Such an action is triable, of course, before the court but…