Smith v. Sinaloa Land & Fruit Co.
Utah Supreme Court
Appeal from District Court, Third. District; Han. O. W. Morse, Judge. Action by H. J. Smith against the Sinaloa Land and Fruit Company. Judgment for defendant. Plaintiff appeals. APPELLANT'S POINTS. Tbe charter of a private corporation, as the defendant is, incorporated under general laws, consists of the articles of agreement, and the laws of the state.
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Appeal from District Court, Third. District; Han. O. W. Morse, Judge. Action by H. J. Smith against the Sinaloa Land and Fruit Company. Judgment for defendant. Plaintiff appeals. APPELLANT'S POINTS. Tbe charter of a private corporation, as the defendant is, incorporated under general laws, consists of the articles of agreement, and the laws of the state. (7 Am. & Eng. 646.) When a corporation assesses the stock held by individuals in the corporation, it is bound to a strict compliance with its authority to act, otherwise it has no power to forfeit the stock on a sale, or otherwise collect the…
1Opinion of the CourtStraup, J.
The defendant is a corporation. The plaintiff brought this action to restrain it from selling his stock for nonpayment of an assessment levied against it by the defendant. It is alleged in the complaint that on the 31st of October, .1911, a stockholders’ meeting was called at which the stockholders “attempted to authorize a board of directors of said corporation to levy an assessment of four dollars per share on the outstanding capital stock of said corporation;” that on the 1st day of November the board of directors “attempted to levy an assessment of four dollars per share on the said…
2Cited by6 opinions
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- United States v. Interstate R. Co.District Court, W.D. Virginia · 1926
- Dennis v. Cooperative Publishing Co.Idaho Supreme Court · 1928
- Gowans v. Rockport Irr. Co.Utah Supreme Court · 1930
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