C. Kenyon Co. v. Sutton

Citations

• 50 Pa. Super. 445
• 1912 Pa. Super. LEXIS 72

Syllabus

<p>Contract — Purchase of stock of goods — Agreement to pay debts — Statute of frauds — Act of April 86,1855, P. L. 808.</p> <p>1. When one buys out the stock of a tradesman and agrees, as the consideration for the purchase, to take the place, fill the contracts, and pay the debts of the vendor, a creditor of the vendor has a right of action to compel payment in accordance with the terms of the agreement; in such a case the Act of April 26, 1855, P. L. 308, requiring an agreement to answer for the debt or default of another to be in writing, has no application.</p> <p>2. In an action by a creditor of a corporation against the president of the corporation to compel him individually to pay the debts of the company, the case is for the jury, and a verdict and judgment for plaintiff will be sustained where the testimony of two witnesses for the plaintiff although contradicted, tends to show declarations by the defendant to the effect that he had bought the whole stock of goods of the company in consideration of an agreement on his part to pay all of the company’s debts.</p>