Kelly v. Fargo Mercantile Co.
South Dakota Supreme Court
Appeal from circuit court, Fall River county. Hon. Levi McGee, Judge. Action by Edmund S. Kelly and others against the Fargo Mercantile Company and others. From an order appointing a receiver, pendente lite, of, defendant corporation’s property, defendants appeal.
1Opinion of the CourtFuller, J.
By this appeal we are called upon to review the action of the trial court in appointing a receiver to conduct the corporate affairs of the Fargo Mercantile Company during the pendency of this action for an accounting. While conceding that the original stock of merchandise was purchased at an exhorbitant price and has since greatly depreciated in value, it is urged by counsel for appellant that there is nothing to indicate fraud on the part of the directors of the corporation, but, on the contrary, an honest intention to conduct the business in a manner consistent with the best interests of…
2Cases cited2 opinions
- Hart v. Mayor of AlbanyNew York Court of Chancery · 1831
- Dudley v. Dakota Hot Springs Co.South Dakota Supreme Court · 1899