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OR THE Edison Manufacturing Company or George and Gaston Melies, and in that event the trustees shall DELIVER to Max Lewis all of the stock, including that deposited by Lodge and Carter.
This agreement was thereafter on July 10, 1909, cancelled by all the parties thereto (Lewis, p. 140).
This is the agreement under which appellees claim that control of the company passed out of the hands of Carter and Lodge, within the purview of the collateral agreement of September 18, 1908, and that by virtue of this agreement, the two license agreements assigned on that date to the complainant automatically ceased and determined. The legal effect of the execution of this trust agreement will be more fully discussed in Point III.
Complainant's proofs completely fail to show an execution by the Patents Company of the new license agreement (Complainants' Exhibit 37, p. 661) or any promise to execute it, or any consideration for any alleged promise to execute.
The true facts as to the partial execution of this as well as the license agreements with the other licensees at the meeting of Dec. 18, 1908, as disclosed by the testimony of seven persons who were present at this meeting are as follows:
Proposed separate printed uniform license agreements were distributed among the Edison licensees at this meeting, for their examination and approval, the terms of which were discussed for several hours. Finally, it appearing that the agreement was satisfactory in form to all parties in interest, the licensees were requested to sign their respective agreements, but it was distinctly stated by Mr. Dyer, President of the Motion Picture Patents Company, that while he signed the agreements then as a matter of convenience, as President of the Patents Company and Vice-President of the Edison Company, none of the agreements were to take effect as the act and deed of the Patents Company unless and until the Board