Schmitt v. Franke
Wisconsin Supreme Court
Appeal from a judgment of the circuit court for Milwaukee county: J. C. Ludwig, Circuit Judge. This is an action in equity to enforce specific performance of an alleged oral agreement to transfer to plaintiff an undivided one-third interest in 701 shares of corporate stock of the Schmitt Brothers Tobacco Works and to impress a trust in the plaintiff’s favor upon 501 shares thereof now in the hands of the defendants.
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Appeal from a judgment of the circuit court for Milwaukee county: J. C. Ludwig, Circuit Judge. This is an action in equity to enforce specific performance of an alleged oral agreement to transfer to plaintiff an undivided one-third interest in 701 shares of corporate stock of the Schmitt Brothers Tobacco Works and to impress a trust in the plaintiff’s favor upon 501 shares thereof now in the hands of the defendants. The relief was denied on the ground that a part of the oral contract for the transfer of the stock was an arrangement to restrict public bidding at a judicial sale of said stock,…
1Opinion of the Court
Winslow, O. T.
There was sufficient evidence to sustain the findings of fact made by the trial court, and the only question which we find it necessary to consider is the question whether the proper legal conclusion was drawn therefrom.
The essential facts are these: Franlce agreed to sell the 701 shares of stock to plaintiff and Mathias, joint notes being given therefor by plaintiff, Mathias and G. M. Schmitt, and Walter. The notes not being paid Franlce foreclosed the agreement. Before the foreclosure action was begun G. M. ■Schmitt, Walter, and Franlce agreed between themselves that Franlce…
2Cases cited2 opinions
- Milwaukee Masons & Builders' Ass'n v. NiezerowskiWisconsin Supreme Court · 1897
- Herndon v. GibsonSupreme Court of South Carolina · 1893
3Cited by3 opinions
- Weathers v. JarvisMassachusetts Supreme Judicial Court · 1936
- Schmitt v. SchmittWisconsin Supreme Court · 1919
- Trumpf v. ShoudyWisconsin Supreme Court · 1917