David Josiah Brewer

“ They call attention to the clause providing that 'the $500 is to be considered an option,' refer to the fact that there is nothing in the contract in terms mentioning 'sale' or 'purchase.' There is always danger in applying a generic term to a contract, and then subjecting it to the general rules controlling contracts of that nature, irrespective of its special stipulation. While an option is given by the contract, and the price paid for the option is named, yet it contains other clauses which are equally binding, and from which liability arises. Option contracts are not all alike. ”

“ The construction of the contract is reinforced by the fact that not only was the stock to be delivered to the plaintiffs in error, but also Nelson agreed to give, and did give, his proxy as director in each of the companies, so that the possession of the stock and all the rights which attached to it passed to the plaintiffs in error, to be exercised by them subject to the right at any time before the 4th of March to return the property. ”