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FROST & CO. v. MINES CORP.

No. 78.

312 U.S. 38 (1941)

A.C. FROST & CO. v. COEUR D'ALENE MINES CORP.

Supreme Court of United States.

Decided January 20, 1941.

Attorney(s) appearing for the Case

Messrs. Ernest L. Wilkinson and John W. Cragun, with whom Mr. Charles J. Kappler was on the brief, for petitioner.

Messrs. W.H. Langroise and James A. Wayne for respondent.

Solicitor General Biddle and Messrs. Edwin E. Huddleson, Jr., Chester T. Lane, and Christopher M. Jenks filed a brief on behalf of the Securities & Exchange Commission, as amicus curiae, presenting the views of the Commission as to the interpretation of certain provisions of the Securities Act of 1933, as amended.

MR. JUSTICE McREYNOLDS delivered the opinion of the Court.

September 10, 1934, respondent, by a written contract, gave to one Boland "the sole and exclusive right and option to purchase the whole or any part" of 1,300,000 shares of its treasury stock at 10 cents per share, payments to be made in installments. He immediately assigned the contract to petitioner, Frost & Company. April 26, 1935, this was modified as to time...

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