Prudential Insurance Co. of America v. A. Enkema Holding Co.

Loring, Justice.

In 1923 A. Enkema was the owner of a 400-acre farm in Chippewa county which in that year he mortgaged to plaintiff to secure the payment of $18,000. Later he acquired this defendant corporation, whose name he changed to the A. Enkema Holding Company. He owned substantially all of the stock in the holding company except the qualifying shares of the other two directors. He was president, his stenographer was secretary, and his wife, apparently, was the third director. The mortgage on the Chippewa county farm was made in February, 1923, and in December of that year he conveyed…