Randle v. Interstate Grocer Co.
Supreme Court of Arkansas
Appeal from Marion Circuit Court; J. M. Shinn, Judge; STATEMENT OF FACTS. The Interstate Grocer- Company sued J. M. Randle in tbe circuit court to recover an amount alleged to be due it upon three promissory notes. Tbe plaintiff was a foreign corporation and bad not complied with our statutes in regard to tbe sale of corporate stock by investment companies. Tbe notes in question were given for shares of stock in tbe plaintiff company.
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Appeal from Marion Circuit Court; J. M. Shinn, Judge; STATEMENT OF FACTS. The Interstate Grocer- Company sued J. M. Randle in tbe circuit court to recover an amount alleged to be due it upon three promissory notes. Tbe plaintiff was a foreign corporation and bad not complied with our statutes in regard to tbe sale of corporate stock by investment companies. Tbe notes in question were given for shares of stock in tbe plaintiff company. At a later date tbe plaintiff complied with tbe statute and. secured a certificate authorizing it to sell six hundred shares of its capital stock. It then…
1Opinion of the CourtHart, J.
(after stating the facts). It is contended by counsel for the defendant that the judgment against him should be reversed because the contract in question was made unlawful by sections 751 and 762 of Crawford & Moses’ Digest.
Section 751 provides, among other things, that every person, corporation, copartnership, company or association, a resident of, or organized in, any other State', shall be known for the purposes of this act as a foreign investment company.
Section 762 provides, among other things, that it shall be unlawful for any investment company, or dealer, or representative, either…
2Cases cited3 opinions
- Buffalo Zinc & Copper Co. v. CrumpSupreme Court of Arkansas · 1902
- Waxahachie Medicine Co. v. DalySupreme Court of Arkansas · 1916
- Compagionette v. McArmickSupreme Court of Arkansas · 1909
3Cited by3 opinions
- Peter & Burghard Stone Co. v. CarperIndiana Court of Appeals · 1930
- City National Bank v. DeBaumSupreme Court of Arkansas · 1924
- Jacks v. Western Secured Investments Co.Court of Appeals of Arkansas · 2001