Baggaley v. Pittsburg & Lake Superior Iron Co.
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Western District of Michigan. This bill was filed by a stockholder to restrain his corporation, its officers and directors, from selling the company’s lands, and also from selling or otherwise disposing of timber standing upon its lands, unless previously authorized thereto by a vote of throe-fifths of the capital stock of said company.
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Appeal from the Circuit Court of the United States for the Western District of Michigan. This bill was filed by a stockholder to restrain his corporation, its officers and directors, from selling the company’s lands, and also from selling or otherwise disposing of timber standing upon its lands, unless previously authorized thereto by a vote of throe-fifths of the capital stock of said company. The corporation sought to be enjoined is a mining company organized under the provisions of chapter 123, How. Ann. St. Mich. The complainant below and appellant here owns or controls and represents…
1Opinion of the Court
LURTON, Circuit Judge,
after making the foregoing statement of facts, delivered Hut opinion of the court.
The sale of standing timber is a sale of an interest in land, and under the Michigan statute of frauds must be in writing. Johnson v. Moore, 28 Mich. 3; Russell v. Myers, 32 Mich. 522; Williams v. Flood, 63 Mich. 487, 30 N. W. 93. The contention, therefore, is that, if it was in excess of the authority of the officers and directors of this company to sell the lands of the company unless authorized thereto by a vote of three-fifths of the stock of the company, it was equally unauthorized fo…
2Cases cited5 opinions
- Beecher v. Marquette & Pacific Rolling Mill Co.Michigan Supreme Court · 1881
- Williams v. FloodMichigan Supreme Court · 1886
- Johnson v. MooreMichigan Supreme Court · 1873
- Tinkham v. . TapscottNew York Court of Appeals · 1858
- Russell v. MyersMichigan Supreme Court · 1875
3Cited by7 opinions
- Great Lakes Towing Co. v. Mill Transp. Co.Court of Appeals for the Sixth Circuit · 1907
- State ex rel. Farmers State Bank v. HeveloneNebraska Supreme Court · 1913
- Fouracre v. WhiteSuperior Court of Delaware · 1917
- United States v. BellmDistrict Court, E.D. Oklahoma · 1910
- White v. OldSupreme Court of Virginia · 1912
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