Williams v. Fry

Citations

• 252 Pa. 495
• 97 A. 701
• 1916 Pa. LEXIS 649

Syllabus

<p>Trustees — Trustees ex maleficio — Stock—Purchase of stock — Agency — Insitffi-cient evidence.</p> <p>In. a suit in equity to require defendant to transfer to plaintiff certain shares of corporate stock, plaintiff alleged that defendant had been his agent for the purchase of the holdings of a third person in a certain corporation and that he had paid defendant a stipulated consideration, but that defendant had only transferred a part of the holdings of such third person which he had acquired, retaining 191 shares. The evidence did not show that plaintiff had employed defendant as his agent for the purchase of the stock but merely showed an agreement by plaintiff for the purchase of those shares from defendant which had been admittedly delivered to plaintiff. The lower court found that defendant was not plaintiff’s agent for the purchase of the stock, and that there was no fraud on defendant’s part in retaining the shares which he held, and dismissed the bill. Held, no error.</p>