Wheeler v. Ocker & Ford Manufacturing Co.
Michigan Supreme Court
Appeal from the superior court of Grand Rapids; Stuart, J. Bill by Charles E. Wheeler against the Ocker & Ford Manufacturing Company, and Henry G. Dykhouse, John Jungbaecker and Robert H. Sherwood, trustees for the benefit of the creditors of said company, to establish a claim as creditor of the corporation and of the trustees. From a decree sustaining a demurrer to the bill, complainant appeals.
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Appeal from the superior court of Grand Rapids; Stuart, J. Bill by Charles E. Wheeler against the Ocker & Ford Manufacturing Company, and Henry G. Dykhouse, John Jungbaecker and Robert H. Sherwood, trustees for the benefit of the creditors of said company, to establish a claim as creditor of the corporation and of the trustees. From a decree sustaining a demurrer to the bill, complainant appeals. By his bill of complaint in this cause, the complainant states: That the defendant the Ocker & Ford Manufacturing Company, a corporation duly organized and existing under the laws of this State,…
1Opinion of the CourtStone, J.
{after stating the facts). 1. Did the Complainant by the Terms of the Contract of Employment Become a Stockholder of the Defendant Corporation ?
The same legal principles govern with regard to the elements of a contract for the sale of stock, as apply in the case of contracts generally. It is a general rule that subscriptions to capital stock must be for a definite number of shares. Peninsular R. Co. v. Duncan, 28 Mich. 130; 1 Cook on Corporations (6th Ed.), § 10; 10 Cyc. pp. 380, 381, 390. In Bostwick v. Young, 118 App. Div. 490 (103 N. Y. Supp. 607), it was held that a railroad construction…
2Cases cited6 opinions
- In re the Estate of KingsburyMichigan Supreme Court · 1883
- Peninsular Railway Co. v. DuncanMichigan Supreme Court · 1873
- Bostwick v. YoungAppellate Division of the Supreme Court of the State of New York · 1907
- Crowl v. GoodenbergerMichigan Supreme Court · 1897
- Charles Maloney & Co. v. GonhueMichigan Supreme Court · 1908
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3Cited by2 opinions
- Detroit Osteopathic Hospital v. JohnsonMichigan Supreme Court · 1939
- Guntzviller v. GitreMichigan Supreme Court · 1917