Grundt v. Shenk

In October, 1919, the time of the making of the agreement, the decedent was engaged in real estate speculation, then holding title to over sixty parcels of property. These properties stood in the name of the Shenk Realty and Construction Company. It was conceded that Shenk was practically the owner *85of that company, holding ninety-eight per cent of its stock. Shenk’s financial interest in these properties was said to represent an equity of some two million dollars; and defendant conceded the value of these equities, in October, 1919, to be “ approximately a million dollars.” The mortgages on…