Wyatt v. Jackson

Decided October 20, 1893

Supreme Court of Minnesota · decided 1893-10-20

Appeal by defendant, William L. Jackson, from an order of tbe Municipal Court of the City of Duluth, Roger S. Powell, J., made July 27, 1892, refusing his motion for a new trial. The plaintiff, Grant Wyatt, sold defendant on March 15, 1892, twenty shares of stock in the Shaw Iron Company for $400, and took his note for the amount due thirty days thereafter with interest.

Cited by 1 later decisions — most recently May 1925

1 state decisions

Good law ✅— No negative treatment on recordhow we know

Decided 1893-10-20

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Gilnillan, C. J.

¶1It is a matter of no importance in this case what the character of the transaction in respect to the stock was,— that it was an executory contract by plaintiff to transfer the stock to defendant, or a transfer by plaintiff to defendant, and a pledging or mortgaging by the latter to the former, — for, whatever its character, defendant acquired by it rights in respect to the stock which, upon performance of the contract on his part, he could enforce against plaintiff; and the vesting in him of such rights-was a sufficient consideration for the note he executed for the stock.

¶2Order affirmed.