Hildreth v. Western Realty Co.

Lowe, Dist. J.

Several years prior to the year 1913 a corporation known as the North Dakota Improvement Company was organized under the laws of the State of North Dakota. In the course of its business it entered into contracts with a large number of persons, which were evidenced by investment certificates. In 1913 the company was confronted with financial difficulties and was placed in the hands of a receiver in a proceeding brought in the district court of Cass county. During the pendency of that proceeding a reorganization plan was perfected whereby a new corporation known as the AVestern…