Disclosed liabilities-Payment by vendee. It is further understood and agreed between the parties hereto that in the event the party of the third part finds any outstanding obligations unpaid between the date hereof and -, 19-, he shall pay the same out of the cash deposited with the cashier of the Citizens National Bank, after first procuring the approval of the parties of the second part, and the cashier of the Citizens National Bank is hereby instructed to hold the four thousand dollar ($4,000.00) note described in the premises, to secure such outstanding obligations, until instructed by the party of the third part to surrender the same to the parties of the second part, which instruction shall be given not later than 19-. Possession of premises. It is further understood and agreed between the parties hereto that the party of the third part shall take possession of the property at once, and that all coal mined and credits due on and after -, 19-, shall be payable to him. The parties of the first and second parts agree to pay the invoice for metal siding ordered for the completion of the power house located on the property of the party of the first part now in the course of construction. General warranty of title to lease. The said party of the first part and the parties of the second part warrant generally the title to the said lease hereby conveyed, as part of the assets of the corporation, and further agree to pay all outstanding indebtedness contracted prior to 19-. In Testimony Whereof, the No. 2 Gas Coal Company, a corporation, has caused these presents to be signed by T. L. Johnson, its president, and its corporate seal to be attached, and witness the following signatures and seals: (Corporate Seal) (Signed.) No. 2 Gas Coal Company. (Involved in Spangler v. Johnson, 98 W. Va. 584, 127 S. E. 398.) Form 3023. Agreement to Purchase One-fourth of the Stock of an Existing or Proposed Corporation and Become Its Manager. day of This agreement made and entered into this A. D. 19—, by and between —, party of the first part, and -, party of the second part, witnesseth that: Terms and salary. Whereas, the party of the second part has this day agreed to take a one-fourth interest in the property and contents of the Scott Hotel, located on the corner of Seventh and Ankeny streets, in the city of Portland, for four thousand dollars ($4,000.00) paying herewith seventeen hundred and fifty dollars ($1,750.00), the balance to be paid as follows: The said second party and his wife are to take charge of the hotel at a salary of $125.00 per month, $60.00 of which amount is to be retained by said second party to meet his current expenses, and the balance is to be applied on the purchase-price of the said fourth interest in the furnishings and property in said hotel. New corporation. If an adjustment or settlement is made between the stockholders of the Scott Hotel Company so that the first party gets control of all the stock of said corporation, then the second party is to have one-fourth of the stock of said corporation, fully paid and nonassessable upon the completion of the payment of $4,000.00 herein provided for. But should the stockholders of said Scott Hotel Company be unable to adjust their matters, a new corporation is to be organized for $16,000.00, and the second party is to have one-fourth of the stock and the first party herein is to have the other three-fourths. Said second party is to pay for said one-fourth interest as herein provided. If a new corporation is organized, all of said property in said hotel is to be turned over to the said corporation by the said first party, it being understood and agreed that the said first party is to protect the fourth interest of said second party from debts and liabilities of the Scott Hotel Company. It is further agreed that in case the hotel does not meet its current expenses, the said $65.00 of salary that is to be applied on the purchase-price of the stock is to be applied and contributed towards meeting the deficiency in expenses, and in case the hotel makes a profit the second party's profit, which is one-fourth of the total profits, in addition to the $65.00 is to go to liquidate the balance of the purchase until the same is fully paid. Option to purchase remainder of stock. It is further agreed that the second party shall have the right to purchase an additional one-fourth interest in said company at any time within sixty days from the date of this agreement for $4,000.00, $2,000.00 cash, and the balance on or before six months, the same to be secured by the stock of the corporation; and in case the said second party desires to purchase at any time after the sixty days and prior to six months he may do so by paying $4,500.00. Sale of assets. It is further agreed that in case the said parties hereunto or the corporation they shall hereafter form, shall sell out their interest in the Scott Hotel Company, the second party herein shall be entitled to whatever profits arise upon the said onefourth interest in the stock. It is further agreed that said property shall not be sold for less than $17,000.00, and that upon such sale the second party is entitled to one-fourth of the profits in addition to whatever amount he has paid upon the purchase-price of his one-fourth interest. In Witness Whereof, the said parties to this agreement have hereunto set their hands and seals, in duplicate, the day and year first above written. for one-half I hereby agree to extend the option given interest in Hotel Scott for thirty days from date, terms as per original agreement. (Construed in Dietz v. Stephenson, 51 Ore. 596, 95 Pac. 803.) Form 3024. Brokers Contract with Customer. Mr. c/o Accurate Device Mfg. Co., 174 West Washington St. We have this day bought for you subject to the rules, bylaws and customs of exchange where executed: Twenty shares Hup Motors 21% net; amount $427.50. Cash on account $160.00. It is agreed between broker and customer: That actual purchase or sales are contemplated and the purchaser shall receive or make actual deliveries. That the customer's account or any transaction therein may be closed at any time by sales or purchases at public or private sale, without demand on customer for additional deposit or notice of sale or purchase, whenever the broker in his judgment shall consider it necessary for his protection by reason of exhaustion of deposit to such an extent as to endanger the account. That all transactions are subject to the rules and customs of the exchange where executed and its clearing house. That all securities from time to time carried in the customer's account, or deposited to protect the same may be loaned by the broker, or may be pledged by him separately or together with other securities, either for the sum due thereon or for a greater sum, all without further notice to the customer. Respectfully yours, (Construed in People v. Friedman (Ill. App.), 152 N. E. 523.) Form 3025. Order to Broker to Purchase Stock. Το & Company, Fiscal Agents, 79 Dearborn St., Chicago. You are hereby authorized and empowered to purchase for me, 100 shares of the common stock of the Investment Com pany, for which I agree to pay to your order, the sum of one hundred dollars, payable in the following manner, to wit: $10.00 down and $10.00 per month until paid for. (Construed in Croft v. Beecher, 185 Ill. App. 622.) Form 3026. Sale of Stock-Brokers Offer. & Co. Stocks and Bonds. 201 Hoge Building Annex, Seattle, Washington. c/o Pacific Coast Biscuit Co., Los Angeles, California. Dear Sir: Are you disposed to sell a portion of your holdings of Pacific Coast Biscuit Company stock? As you are probably aware the stock dividend has now been declared, and you have probably received the new stock by this time. We can possibly handle 100 shares or so of the new stock at around $105.00 per share. If you desire to sell, please make us a firm offering by telegram as to how many shares you wish to sell and the price to us. Very truly yours, (Involved in Easter v. Henry (Wash.), 247 Pac. 469.) Form 3027. Broker's Statement of Sale of Stock. Oklahoma City, Okla., Mr. P. E. Stroud, c/o Victoria Hotel, Los Angeles, Cal. 19-. Thirty-eight thousand three hundred (38,300) shares of Black Panther Oil Company stock, to net you 50c. per share, or total $19,150.00. We sold stock at 52c., the 2c. per share representing our commission, and total of $19,916.00 is being sent to your bank; upon receipt of $19,916.00, you are to remit to us by draft $766.00 as per your wire confirming. Per (Signed.) (Construed in Sautbine v. Stroud, 5 Fed. (2d) 809.) Company, Form 3028. Sale of Stock on Commission. Referring to our various conversations on the subject of securing, through you, either a purchaser of all of the stock of |