Originally posted by HOUDINI563
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"BM Colorado Springs Colo July 10th 1926
B. E. Clements
President Chicago Coliseum Club Chgo
Entirely too busy training for my coming Tunney match to waste time on insurance representatives stop as you have no contract suggest you stop kidding yourself and me also. --Jack Dempsey."
B. E. Clements
President Chicago Coliseum Club Chgo
Entirely too busy training for my coming Tunney match to waste time on insurance representatives stop as you have no contract suggest you stop kidding yourself and me also. --Jack Dempsey."
The only problem is that he signed the contract on March 13th and accepted $10 consideration on that date.
Chicago Coliseum Club, a corporation, as plaintiff, brought its action against William Harrison Dempsey, known as Jack Dempsey, to recover damages for breach of a written contract executed March 13, 1926, but bearing date of March 6 of that year.
By the terms of the agreement Dempsey was to receive $10, receipt of which was acknowledged, and the plaintiff further agreed to pay to Dempsey the sum of $300,000 on the 5th day of August 1926, — $500,000 in cash at least 10 days before the date fixed for the contest, and a sum equal to 50 per cent of the net profits over and above the sum of $2,000,000 in the event the gate receipts should exceed that amount. In addition the defendant was to receive 50 per cent of the net revenue derived from moving picture concessions or royalties received by the plaintiff, and defendant agreed to have his life and health insured in favor of the plaintiff in a manner and at a place to be designated by the plaintiff. Defendant further agreed not to engage in any boxing match after the date of the agreement and prior to the date on which the contest was to be held. Certain agreements previously entered into by the defendant with one Floyd Fitzsimmons for a Dempsey-Wills boxing match were declared to be void and of no force and effect. Certain other mutual agreements were contained in the written contract which are not necessary in a consideration of this case.
https://casetext.com/case/chicago-co...club-v-dempsey
By the terms of the agreement Dempsey was to receive $10, receipt of which was acknowledged, and the plaintiff further agreed to pay to Dempsey the sum of $300,000 on the 5th day of August 1926, — $500,000 in cash at least 10 days before the date fixed for the contest, and a sum equal to 50 per cent of the net profits over and above the sum of $2,000,000 in the event the gate receipts should exceed that amount. In addition the defendant was to receive 50 per cent of the net revenue derived from moving picture concessions or royalties received by the plaintiff, and defendant agreed to have his life and health insured in favor of the plaintiff in a manner and at a place to be designated by the plaintiff. Defendant further agreed not to engage in any boxing match after the date of the agreement and prior to the date on which the contest was to be held. Certain agreements previously entered into by the defendant with one Floyd Fitzsimmons for a Dempsey-Wills boxing match were declared to be void and of no force and effect. Certain other mutual agreements were contained in the written contract which are not necessary in a consideration of this case.
https://casetext.com/case/chicago-co...club-v-dempsey
So there you have it. Now you tell me. Who signs a contract and accepts $10 in consideration on THE VERY SAME DAY that they claim they were due $125,000????
When you can make sense of that, you let me know, yea?
By the way, the court disagreed with Dempsey, stating that he was wrong. There was a valid contract. And in accordance with exactly what the contract stated, the $300,000 was waiting for Dempsey on August 5th, 1926. The promoter kept their side of the deal. Dempsey bailed.
Also, remember Dempsey's own words, that Wills was the only man he wanted to fight since 1919. Hmmm.
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