Altoona Electrical, Engineering & Supply Co. v. Kittanning & F. C. St. Ry. Co.

Citations

• 126 F. 559
• 1903 U.S. App. LEXIS 5189

Syllabus

<p>1. Specific Performance — Contracts Enforceable — Equity Jurisdiction.</p> <p>A court of equity has jurisdiction of a suit to compel the specific performance by a corporation of a contract to deliver a specified amount of its capital stock in payment for work which gave to such stock its only value, and where the entire capital stock is small, and presumably has no general market value; nor is such jurisdiction lost by the fact that after the filing of the bill the stock is sold by defendant to others, but will be retained to determine and award complainant compensation therefor.</p> <p>2. Equity Jurisdiction — Waiver of Objection.</p> <p>A defendant; by answering to the merits of a bill and going to hearing without objection, waives the right to object that the suit is not cognizable in equity, where the subject-matter is within general equitable jurisdiction.</p> <p>8. Contracts — Performance—Estoppel.</p> <p>A corporation which contracted with another for the construction by the latter of an electric railway line, to be completed within a stated time, agreeing to procure the right of way, is estopped to insist on the time limit in defense to an action for the contract price, or that the work was not fully completed, where the delay was in large part, and the n(^completion entirely, due to its own default in failing to procure right of way.</p> <p>4. Same — Damages for Breach.</p> <p>Where complainant contracted to build an electric railway line for defendant, which agreed to procure the right of way, and represented that it had done so, but in fact failed to obtain a right of way over certain parts of the line, by reason of which it could not be completed to the full length contemplated by the contract, complainant was entitled to recover the direct profits it was prevented from earning under the contract by such default of defendant.</p> <p>IT 2. See Equity, vol. 19, Cent. Dig. § 120.</p>