Demarest v. Koch

<p>Appeal by plaintiff from a judgment dismissing the complaint on the merits as to defendant Koch, and directing judgment in his favor.</p> <p>The complaint alleges that defendants were partners, and jointly interested in the construction of two houses in the city of New York; that plaintiff agreed with defendants to do certain work in the .construction of said houses; that he did the work, but that the defendants have only partly paid him therefor.</p> <p>The answer of the defendant Koch denies the allegations of the complaint, and alleges that the contract was made between plaintiff and another defendant, and not with defendant Koch.</p> <p>One Spaulding and defendant Koch entered into an agreement by which the former was to purchase certain lots of a third person and erect two apartment houses thereon, and Koch was to advance certain moneys for their completion. In consideration thereof Spaulding agreed to convey to Koch either of the two houses, or, at the option of Koch, in case the houses were sold at a price satisfactory to both parties, to pay him one-half the net proceeds of the sale, “ it being the intent of the parties to equally divide any profits which may be realized by the sale of said buildings.” Spaulding assigned his interest in the agreement to his wife, who made the contract in question with plaintiff.</p>