RESCISSION AND CANCELLATION, § 26 — rescission of contract as warranted by material breach thereof. Where contract provided that defendant would work for corporation in capacity of plant superintendent and general manager for fifteen year period and that one-third of corporate stock would be transferred to defendant for which no cash consideration was paid, defendant's voluntary abandonment of contract without cause less than three years after its commencement constituted material breach of contract which warranted rescission thereof and required surrender or cancellation of stock held by defendant, since continuance of defendant's employment for 15 years so that business could become firmly established was undoubtedly one of principal considerations for transfer of stock to defendant.
See Callaghan's Illinois Digest, same topic and section number.
ON REHEARING.
Opinion by JUSTICE FRIEND.
Not to be published in full. Opinion filed November 19, 1946; released for publication December 3, 1946.