Kernochan v. Murray

The action i—The s upon a guaranty executed and delivered to the plaintiff by De Mill & Co., by which they agreed with him:

“In consideration of your having purchased, upon my •representation as to their value, forty shares of the capital stock of the Albemarle Swamp Land Company, and of one dollar to me in hand paid, I do hereby guarantee that you shall receive, as long as you hold said stock, dividends equal to seven per cent per annum, or I will make good to you all deficit from such account.

“DE MILL & CO.

“New York, August 21, 1871.”

The company failed to pay dividends upon the stock, and an…