Blanks v. Sutcliffe

Citations

• 122 La. 448
• 47 So. 765
• 1908 La. LEXIS 484

Syllabus

<p>Specific Performance (§ 31*) — Contract to Sell Bank Stock — Evidence.</p> <p>Where the president of a bank, having entire charge of its administration, and having information in regard to its real condition not possessed by a stockholder, obtains from such stockholder an offer to sell his stock at a certain price upon the representation that the president desires to add it to stock owned by him and sell the whole (including all the stock owned by him), together, and at the same price, and it also appears that the president never agreed and never intended to sell his own stock at such price, and sold part, but not all, of it, together with stock obtained from, or contributed by, other holders, at a different price and on different terms from those contemplated by the offer; and it further appears that the stockholder, after such sale by the president, but within the time limit granted to him, withdrew his offer, there having been no acceptance in the meanwhile, no action will lie for specific performance of the offer to sell or for damages resulting from the failure to make it good.</p> <p>[Ed. Note. — For other cases, see Specific Performance, Cent. Dig. § 86; Dee. Dig. § 31.*]</p> <p>(Syllabus by the Court.)</p>