Cowan v. Salt Lake Hardware Co.

WADE, Justice.

This action was brought by all but one of the owners of second preferred shares of stock in the Salt Lake Hardware Co., respondent herein, to determine the right of that corporation to amend its Articles of Incorporation so as to be able to recall and redeem those shares should the Board of Directors of that company desire to do so. It was the plaintiffs’ and appellants’ theory that the company could not so amend its Articles of Incorporation, whereas the respondent herein, by its answer, contended that it had this right. At the trial both the plaintiffs and defendant moved for…