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MAYTAG COMPANY v. ALWARD

No. 50442.

112 N.W.2d 654 (1962)

MAYTAG COMPANY, Appellee, v. George L. ALWARD, Appellant, Willis Steinberger and Jasper County Savings Bank, Defendants-Appellees.

Supreme Court of Iowa.

January 9, 1962.

Attorney(s) appearing for the Case

Korf, Diehl, Swanson & Clayton, Newton, for appellant George L. Alward.

Campbell, Campbell & Caldwell, Newton, for appellee The Maytag Company.

Cross, Hamill, Selby & Updegraff, Newton, for appellee Jasper County Savings Bank.

Brierly, McCall & Girdner, Newton, for appellee Willis Steinberger.

GARFIELD, Chief Justice.

This is an action in equity brought by The Maytag Company against George L. Alward, a key employee at the time he resigned on April 1, 1960, to accept employment with The Brunswick-Balke-Collender Co. in Muskegon, Michigan. Plaintiff seeks to rescind option agreements under which defendant acquired 600 shares of its corporate stock and claims 400 additional shares which plaintiff refused to deliver. Restitution and cancellation of the stock...

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