Ralph A. Badger & Co. v. Fidelity Building & Loan Ass'n.
Utah Supreme Court
1Opinion of the Court
HANSON, Justice.
On June 24, 1925, the defendant, a building and loan association organized under the laws of Utah, issued to Arthur and Celina Le Clerc of Tonapah, Nev., a certificate for 50' shares of its capital stock, known as “Investors’ Guarantee Dividend Stock.” Under the terms of the certificate, the defendant promised to pay, upon the maturity of the certificate, the sum of $5,000 as provided by section 2, article 10, of the by-laws of the association. The Le Clercs matured said certificate in May, 1932, and on December 27, 1932, filed notice of withdrawal with the defendant for the…
2Cases cited31 opinions
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