Legal Opinion
Parker v. Merritt
Supreme Court of Minnesota
Decided July 31, 1925No. 24,810PublishedCited by 3 opinions
1Opinion of the CourtStone, J.
Defendant Merritt appeals from'a judgment against him on his constitutional liability as a stockholder in Northern Minnesota Land and Cattle Company, a domestic corporation now undergoing winding up proceedings.
The one defense that we have to consider is based upon the fact that his stock was sold to him in violation of chapter 105, p. 99, Laws 1919; G. S. 1923, § 3980, the Minnesota “Blue Sky” law. The statute was violated in that, at the time of the sale, neither the corporation nor the salesman had been licensed by the Securities Commission.
The stock was subscribed for May 20, 1921. The…
2Cases cited5 opinions
- Edward v. IoorMichigan Supreme Court · 1919
- Vercellini v. U. S. I. Realty Co.Supreme Court of Minnesota · 1924
- Olson v. State BankSupreme Court of Minnesota · 1897
- Madsen v. SmithCourt of Appeals for the Seventh Circuit · 1923
- Hancock v. Frederick Co-Operative Mercantile Co.South Dakota Supreme Court · 1924
3Cited by3 opinions
- Stern v. National City Co.District Court, D. Minnesota · 1938
- Marin v. OlsonSupreme Court of Minnesota · 1930
- Edson v. O'ConnellSupreme Court of Minnesota · 1934