Goddard v. Gladstone

In 1954 Kadel, a lawyer, Gladstone, Ms legally trained client and business friend or acquaintance, and Goddard were involved with others in the consummation of a business venture leading to the issuance of Standard Industries, Inc. stock. For his compensation in advancing the deal Gladstone would get 25,000 shares of the new stock, qualified against transference. Gladstone and Kadel had been in many business, professional and personal relationships and there had been money advances on both sides. At the same time Kadel held Gladstone’s promissory demand note, dated January 12, 1949, for…