New Jersey Equity Reports Volume 80

New Jersey Equity Reports Volume 80

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1913 edition. Excerpt: ... provisions of Article 13 to be devoted to the payment of debts, etc.)" "XVII. All details necessary to carryout the agreement to complete consummation, including details of the organization of the proposed company, if the option shall be availed of, shall be agreed upon between Mr. Post as representing the purchasers and Mr. Claus Doscher as representing the sellers, and in the event of disagreement between them shall be determined in his absolute discretion' by Mr. "The date of sale is the date when the deed or transfers are finally delivered and consideration paid." The option agreement is signed by Doscher and Post, in the case of the New York company; by Mollenhauer and Post, in the case of the Mollenhauer company, and by Post, Tooker, Bunker and others, in the case of the National company. There is no uncertainty with respect to the meaning and design of these options. Post, although designated "pu1'chaser,"' was, according to their terms, to be nothing more than the promoter of the new company, acting, as he says in his testimony, as agent for and under the directions of Havemeyer. Neither of these gentlemen became, in any proper sense, purchasers. The sole consideration for the stock of the old companies was to be the preferred stock of the new company. The new company, when formed, was to deal directly with the stockholders of the old companies. Their stockholders were to transfer to it their stock direct, and, if required, the property which the stock represented. The new company was to issue to each stockholder, individually, an exact equivalent for that which each individual gave. The options gave neither Post nor Havemeyer one dollar of interest in the new company except in so...
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Product details

  • Paperback | 222 pages
  • 189 x 246 x 12mm | 404g
  • United States
  • English
  • black & white illustrations
  • 1236901010
  • 9781236901019