31 Ind. App. 493 | Ind. Ct. App. | 1903
The appellee sued the appellants, the Home Electric Light & Power Company, Orrin U. 'Lumbert, John E. Micks and Ephraim L. Gilman. The judgment was in favor of the appellee against the corporation alone. We therefore can examine only the alleged errors assigned by the corporation separately; being the overruling of its separate demurrer to each of the six paragraphs of complaint, and the overruling of its motion for a new trial.
The demurrer to the complaint was a several and separate demurrer of each of the defendants to each of the paragraphs of complaint. Upon the overruling of the demurrer the defendants jointly excepted. “Where the objection or exception in the court below or assignment of
The suggestion of the appellee that no question is properly-presented as to the sufficiency of the complaint seems to be correct. The motion for a new trial was made by the appellants severally, and they severally excepted to the overruling thereof. A very large number of causes
The record, however, requires us to examine as to the assignments that the verdict was not sustained by sufficient evidence, that it was contrary to law, and that the amount of recovery — $2,335—was too large. The capital stock of the corporation amounted, at its face value, to $50,000, and the defendants Lumbert, Micks, and Gilman, each separately owned a-number of shares; the aggregate amount of the stock owned by them being seven-eighths of the whole capital stock. In August, 1896, a contract in writing was made for the sale of the stock of these three stockholders to the appellee Oollins. It was signed by these four persons, and with their names was also signed the name of the corporation, by the defendant Lumbert, as vice-president, and the defendant Micks, as secretary. The contract, however, was an executory agreement, the expressed purpose of which was the purchase by the appellee, and the sale to him by the three individual defendants, of the stock of the defendant Micks, of the par value of $12,500, the stock of the defendant Gilman, of the same amount, and the stock of the defendant Lumbert, of the par value of $18,750. Among the provisions for the payment for these shares of stock was one for the payment by the appellee of $2,000 in cash, upon the making of the contract, to the defendants Micks, Lumbert, and Gilman, who, according to the terms of the contract, were to be paid, in a manner stated in the contract, a further sum in December, 1896; and until the payment of the $2,000 payable immediately, and of the amount payable in December, the appellee was not to be entitled to any of the proceeds from the running of the plant of the corporation, or to the control of such proceeds or of the plant, nor was the stock to be sooner assigned to the appellee. After the date in December for the payment of the sum
The appellee rendered service in the employment of the corporation for a number of months, for which he was paid in part only. There was a contention between the parties as to the rate of compensation per month to which he was entitled, but it appears from the evidence that some portion of the compensation, whether reckoned at the rate for which the appellee contended, or by that insisted upon by the defendants, remained unpaid; and some portion of the amount of recovery would seem to be attributable
All of the paragraphs of complaint sought recovery either on account of such services, or the payment in cash at the making of the contract, except that in one paragraph recovery of damages was sought on the ground of deceit, through alleged fraudulent representations. If it were claimed that the verdict embraced any damages for fraud, the evidence shows that all the alleged fraudulent representations were made by the individual defendants for their own benefit, in an attempt on their part to sell their shares of stock; and, whatever might' properly be said as to the liability of the individual defendants on this ground, the evidence would not warrant a recovery of such damages from the corporation.
Judgment reversed, and cause remanded for a new trial.