Macklem v. Marine Park Homes, Inc.

The plaintiff is the assignee of one Thomas Be. Plaintiff has brought this action to require the individual defendants to return to the defendant corporation all the cash proceeds obtained from the sale of a certain parcel of real property, legal title to which was in the name of the corporation at the time of sale. Plaintiff also requests that the corporation issue to him the shares of stock belonging, or to be issued, to the said Be.

The following facts were clearly established at the trial. Be, a builder, secured a contract of sale on a parcel of real property. As a down payment, he gave a…