Cowen v. McNealy

Mr. Presiding Justice Schwartz

delivered the opinion of the court.

Plaintiffs sue for the specific performance of an oral contract involving patents on pharmaceutical products owned by defendant G-lassman. The contract rests entirely in parol and is set forth in five closely typewritten pages providing, among other things, for the organization by the individual plaintiffs of the plaintiff corporation, to which patents were to be assigned, the corporation to have 30 shares of common stock to be issued to plaintiffs, and 409.09 shares of preferred stock, no par value, non-voting and non-dividend,…