Griffin v. Knoblock
Griffin v. Knoblock
Opinion of the Court
The gist of the allegations of the complaint is
If appellee had no cause of action of the náture pleaded against Miller, he has none against the transferee of the stock, appellant Griffin, nor against appellant company.
' If a cause of action existed against Miller, it was through the alleged agreement between him and appellee made before the issuance of the certificate, or through the alleged agreement of February, 1898,
The facts are: February, 1896, it was agreed between Miller and appellee that at a convenient time they would locate certain placer mining claims on Blue River, Summit county, this state. May, 1896, Miller, appellee, and other associates made locations of placer claims on said stream, and secured options on certain other locations. These parties developed to some extent such claims, and made repeated efforts to effect a sale thereof. Money and time, were expended in such undertakings, the amount of which the evidence does not reveal. July, 1897, Miller, with certain associates, gave an option to purchase on the interests acquired through the locations and the options to appellant Griffin. This option resulted in the formation, November, 1897, of appellant corporation, and the conveyance to it soon thereafter— about February, 1898 — of said mining interests, and, in consideration of the transfer by said conveyance of Miller’s interest in said claims, and of whatever interest appellee had therein, there was issued to Miller a certificate for 150,000 shares of the capital stock of appellant company.
From February, 1896 — the inception of the business association between Miller and appellee — to February, 1898 — the date of the issuance of the certificate for 150,000 shares of stock — Miller had been interested in various mining enterprises and other business ventures. From time to time during this period he informed appellee that he should have an equal interest with him in all of his business undertakings. May 25,1896, he wrote appellee, “You can have one-half of all my interest in the peak or elsewhere,” meaning by “interest in the peak,” certain mining interests which Miller claimed to have at Hahn’s Peak. On same date, in a letter in reference to Willow Canon mining claims, Oro Cache mining
The substance of Miller’s statements, by his letters and otherwise, from February, 1896, to February, 1898, is, that appellee shall have one-half of everything that he has or expects to have, but the evidence reveals no promise at any time made by appellee; the promises are all bv Miller. During this period Miller had been engaged, as stated, in various mining enterprises and other business ventures. He had become interested in the Willow Canon mining claims, the Oro Cache mining claims, mining claims at Hahn’s Peak, mining claims in Wyoming, and certain other business ventures, as the above mentioned general merchandise store, and also an investment brokerage business. All of these undertakings were within the broad terms of Miller’s promise that he would divide everything in which he was interested with appellee. As stated above, appellee made no promises in return. There is no evidence of the terms upon which he was to share in these various enterprises. He contributed, however, to the various undertakings of Miller about $1,000.00, in money and services. How much to any one enterprise appellee could not say, except that of this contribution about $60.00 in cash, and $250.00 in stenographic services, went into the Blue River mining claims. Whether appellee agreed to contribute more than $1,000.00 to the general
Shortly after the issuance to Miller of the certificate in 1898, he told appellee that he would have it canceled and reissued, a certificate to himself and one to appellee. This was never done. Shortly after the issuance of the certificate for 150,000 shares to Miller, it was pledged to secure two notes given by him. Later Griffin took an assignment of these notes and of the certificate, and later purchased of Miller for $1,000.00 his right to redeem the certificate from the hypothecation. The stock was later reissued, one-third thereof to Griffin, the remainder thereof to other parties. The promise of Miller of February,
Judgment reversed. Reversed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.