Gillen v. Bayfield

This is an action for damages for breach of an alleged contract to sell plaintiff a 40 per cent interest in a hotel corporation and employ him as manager.

Defendant, on January 9, 1925, entered into a written contract to purchase for $230,000 from the owner, Mr. Sodini, all the capital stock of the Majestic Hotel Company, which operated a hotel in St. Louis. Defendant paid $5,000 in cash on the purchase price, and was required by the contract to pay $100,000 in cash on February 1st, and give notes totalling $125,000, payable $1500 per month for the balance. February 1st came on Sunday and…