In re Tichenor-Grand Co.
District Court, S.D. New York
In the matter of the Tichenor-Grand Company, bankrupt. On review of order of referee disallowing claim of Hubert M. Hartigan.
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In the matter of the Tichenor-Grand Company, bankrupt. On review of order of referee disallowing claim of Hubert M. Hartigan. On July 25, 1908, the bankrupt company wrote to claimant the following letter: “In consideration of your taking two hundred and fifty shares, twenty-five thousand dollars, of the preferred seven per cent, stock of this company, we agree to give you a position at a remuneration of five hundred pounds per annum and a commission of ten per cent, on all horses you sell. If you wish to leave the company at the end of three years from date, we agree to take back your shares…
1Opinion of the CourtHand, District Judge
(after stating, the facts as above). Since the result is the same, it is better to dispose of this case upon the question of substantive law raised, rather than to let it turn upon the question whether it is contingent within the meaning of the Bankruptcy Act (Act July 1, 1898, c. 541, 30 Stat. 544 [U. S. Comp. St. 1901, p. 3418]).
It is no doubt quite true that courts have at times enforced contracts for the repurchase of corporate stock when the condition or option was part of the original subscription, as here. Ophir Consolidated Mines v. Brynteson, 143 Fed. 829, 74 C. C. A. 625. The…
2Cases cited4 opinions
- Richards v. Ernst Wiener Co.New York Court of Appeals · 1912
- In re Castle Braid Co.District Court, S.D. New York · 1906
- Ophir Consol. Mines Co. v. BryntesonCourt of Appeals for the Seventh Circuit · 1906
- People v. . PoulinNew York Court of Appeals · 1912
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- Mountain State Steel Foundries, Inc., and v. Commissioner of Internal Revenue, AndCourt of Appeals for the Fourth Circuit · 1960
- SV Investment Partners, LLC v. Thoughtworks, Inc.Court of Chancery of Delaware · 2010
- In Re Reliable Manufacturing Corporation, Debtor. Libco Corporation v. Charles W. Leigh and Ervin F. DusekCourt of Appeals for the Seventh Circuit · 1983
- Keith v. KilmerCourt of Appeals for the First Circuit · 1919
- Boggs v. FlemingCourt of Appeals for the Fourth Circuit · 1933
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