Philadelphia Medical Publishing Co. v. Wolfenden

Supreme Court of Pennsylvania
Philadelphia Medical Publishing Co. v. Wolfenden, 239 Pa. 262 (Pa. 1913)
86 A. 849; 1913 Pa. LEXIS 549
Brown, Fell, Mestrezat, Moschzisker, Potter, Stewart

Philadelphia Medical Publishing Co. v. Wolfenden

Opinion of the Court

Per Curiam,

This appeal is from an order discharging a rule for judgment for want of a sufficient affidavit of defense. The action was by a corporation, of which the defendant became an officer, to recover on an oral agreement alleged to have been made by him to subscribe for $5,000.00 of the stock of the corporation when a charter was obtained. It is averred in the affidavit of defense that the defendant’s agreement was to invest $1,000.00 in the stock of the corporation and that he never agreed to subscribe for a larger amount of stock. This denial went to the foundation of the plaintiff’s claim, and if established by proof, would defeat a recovery. The issue raised was for the jury.

The order is affirmed.

Reference

Full Case Name
The Philadelphia Medical Publishing Company v. Wolfenden
Status
Published
Syllabus
Contracts — Stock subscription — Affidavits of defense — Buie for judgment. In an action by a corporation to recover a balance of $4,000 due on an alleged oral agreement to subscribe for $5,000 of the stock of the corporation, an affidavit of defense is sufficient which avers that defendant’s agreement was to invest $1,000 in the stock and that he never agreed to subscribe for a larger amount.