Livermore v. Bushnell

Headnote

Actions on contract — in case of death of one defendant, continued against survivors — Contracts to advance pi'ice of stock, — when illegal.

Actions on contract against defendants jointly liable, do not abate by the death of one or more defendants; but the death should appear by suggestion on the record, and the action should proceed against the surviving defendants. (3 R. S. [5th ed.], 669, § 1.)

The personal representatives cannot be joined in such a case. (1 Pars, on Cont. [2d ed.], 80, 81; Grant v. Shunter, 1 Wend., 148 ; Trustees, ete., v. Lawrence, 11 Paige, 81.)

The law will not aid either party to enforce an agreement entered into for the purpose of advancing the selling price of stocks by means of fictitious dealings designed to produce a false impression on the minds of observers concerning their real value, and in that way to induce them to invest their money in such stocks.

Such an agreement is void and against public policy. (Thompson v. Demes, 13 Johns. ¡ 112; Brisbane v. Adams, 3 Comst,, 129; Hoolcer v.Vcmdewater, 4Denio, 349; Stanton v. Alien, 5 id., 434; Marsh v. Bussell, 2 Lans., 340 ; 2 Kent [7th ed.], 699-703; Morris Bun Goal Go. v. Barclay Goal Go., 68 Penn., 173 ; Commonwealth v. Gandiste, Brightley, 36; King v. De Berenger, 3 Maulé & Sel., 67-72; 3 E. S. [5th ed.], 973, sub. 6 of § 8.)

Appeal by the defendants above named from a judgment in favor of plaintiff, entered on tbe report of a referee.

The action was brought to recover an amount claimed to be unpaid for services rendered, and expenditures made, in selling and buying the stock of the Alpine'Gold Company of Colorado.