Cohen v. Gensbro Hotel Co.

259 F.2d 78 Samuel E. COHEN, Appellant, v. GENSBRO HOTEL CO., a Corporation; Nevada Hotel Development Co., a Corporation; David Gensberg, Louis Gensberg, Meyer Gensberg and Murray Saul, Appellees. No. 15525. United States Court of Appeals Ninth Circuit. Sept. 15, 1958. Desser, Rau & Hoffman, Beverly Hills, Cal., Robert M. Callister, Las Vegas, Nev., for appellant. Morse, Graves & Compton, Ham & Ham, A. W. Ham & A. W. Ham, Jr., Las Vegas, Nev., Harvey L. Silbert, Robert Komins, Bernard M. Silbert, Los Angeles, Cal, for appellee. Before FEE, BARNES and HAMLIN, Circuit Judges. BARNES, Circuit Judge. 1 Plaintiff filed an action under the diversity statute entitled 'Complaint for Breach of Contract,' which alleged that certain individual defendants had organized two corporations, which allegedly needed $1,500,000 cash, and which allegedly orally agreed to sell to plaintiff (a) $1,700,000 in first mortgage bonds secured by an indenture on Nevada real estate for the sum of $1,200,000, in order to construct a hotel project; (b) a 13 per cent share of the equity in any corporation operating said hotel, for $60,000. 2 Plaintiff then alleged that the delivery date was May 19,…