Porter v. Plymouth Gold Mining Co.
Montana Supreme Court
Appeal from District Court, Letuis and Clarice County; J. ill. Clements, Judge. ActioN by James Porter and others against the Plymouth Gold Mining Company. Prom a judgment entered on demurrer, and from an order’ dissolving an attachment, plaintiffs appeal.
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Appeal from District Court, Letuis and Clarice County; J. ill. Clements, Judge. ActioN by James Porter and others against the Plymouth Gold Mining Company. Prom a judgment entered on demurrer, and from an order’ dissolving an attachment, plaintiffs appeal. The contract sued upon is not ultra vires; the corporation can mortgage or pledge its stock for the purpose of raising money to conduct its business, and if it may enter into a contract pledging its stock for the purpose of raising money needed for the management of its business, it may also’ make a conditional sale of said stock for the…
1Opinion of the Court
ME. COMMISSIONER CLAYBEEG
prepared the opinion for the court.
Appeal from final judgment and from an order dissolving attachment.
The material allegations of the complaint are, briefly, as follows: That on the 23d day of May, 1900, appellants and respondent entered- into a contract whereby respondent agreed to sell appellants 4,000 shares of the capital stock of the respondent company at the price of $2,000; that appellants purchased the same, and paid the consideration therefor to respondent; that at the same time this purchase was made the respondent agreed in writing with the appellants that…
2Cases cited31 opinions
- New England Trust Co. v. AbbottMassachusetts Supreme Judicial Court · 1894
- Republic Life Insurance v. SwigertIllinois Supreme Court · 1890
- The City Bank of Columbus v. . Bruce and FoxNew York Court of Appeals · 1858
- Clapp v. PetersonIllinois Supreme Court · 1882
- Dupee v. Boston Water Power Co.Massachusetts Supreme Judicial Court · 1873
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3Cited by36 opinions
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- Sargent v. American Bank & Trust Co.Oregon Supreme Court · 1916
- MacLeod v. StelleIdaho Supreme Court · 1926
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