248 F. 257 | 9th Cir. | 1918
(after stating the facts as above).
“If stock has a recognized market value, courts will ordinarily leave the parties to their action at law for damages for breach of the agreement to sell; but in cases where the átock has no recognized market value, is not purchasable in the market, or has a value which is not settled, but is contingent upon the future workings of the corporation, equity will sometimes decree specific performance of a contract of purchase.” ,
See Express Co. v. Railroad Co., 99 U. S. 191, 25 L. Ed. 319; Reach v. Forbes, 11 Gray (Mass.) 506, 71 Am. Dec. 732; Cushman v. Thayer Mfg Co., 76 N. Y. 365, 32 Am. Rep. 315; Johnson v. Brooks, 93 N. Y. 338; Schmidt v. Pritchard, 135 Iowa, 240, 112 N. W. 801.
Other errors assigned are of less importance, and we find none well founded. We think plaintiff was entitled to maintain the suit, and to have the stock transferred, and to the relief granted by the lower court to the extent stipulated upon between the parties in case of affirmance.
Affirmed.