Goodman v. Purnell

Citations

• 187 F. 90
• 109 C.C.A. 408
• 1911 U.S. App. LEXIS 4486

Syllabus

<p>1. Corporations (§ 439*) — Sale of Assets — Validity—Abilitx to Perform.</p> <p>A contract made by tbe owners of all of the stock of a manufacturing corporation to sell the same and to pay all of the debts of the corporation is not void, as incapable of performance, because it also provides that the purchasers shall take and pay for the product and materials on hand owned by the company, the money to go to the sellers; there being no one interested in the property except the parties to the contract after payment of the debts.</p> <p>[Ed. Note. — For other cases, see Corporations, Cent. Dig. § 1774; Dec. Dig. § 439.*]</p> <p>2. Contracts (§ 316*) — Waiver of Breach — Change of Position.</p> <p>A party to a contract, wiio refused to perform tlie same on grounds expressly stated, cannot, when sued for the breach, set up different grounds, where the facts were equally well known to him when he iirst stated his grounds.</p> <p>[Ed. Note. —Por other cases, see Contracts, Cent. Dig. § 1483 *4 ; Doc. Dig. § 31.6.*]</p>