Wadsworth v. Edwards

Citations

• 33 Ohio C.C. Dec. 373
• 21 Ohio C.C. (n.s.) 401
• 1906 Ohio Misc. LEXIS 340

Syllabus

<p>CORPORATIONS — SALES</p> <p>Sale and Option to Purchase Stock Distinguished.</p> <p>When the owner of shares of stock enters into an agreement with another wherein that party agrees to take over the stock at a certain price on or before a certain date and the owner agrees that he will transfer the stock at any time before the date mentioned upon .the tender of the amount specified, the transaction is an option to purchase and not a sale and the owner can not, upon the failure of the other to pay for and take the stock, maintain an action for the purchase price.</p>