Pennsylvania Co. v. Wilmington Trust Co.

Seitz, Chancellor:

Pennsylvania Company (“plaintiff”), a wholly owned subsidiary of the Pennsylvania Railroad Company, commenced this action against the Wilmington Trust Company and J. Russel Coulter,1 trustees under the will of George P. McNear, Jr., deceased. The trustees will be referred to as “defendants” although it is understood that Coulter’s predecessor was trustee at the crucial dates here involved.

Plaintiff seeks specific performance of an alleged contract by which the defendants agreed to sell to plaintiff a trust asset in the *455form of 23,400 shares of stock of the Toledo, Peoria and…