Anderson v. Scandia Mining Syndicate
South Dakota Supreme Court
Appeal from Circuit Court, Beadle County. Hon. Arva KTayror, Judge. Action by Henry O. Anderson and others against the Scandia Mining Syndicate and others. From, a judgment of dismissal, plaintiffs appeal. While the contract for the payment of stock at less than par may be binding between the corporation and the purchasing stockholder, and stockholders consenting thereto, it does not bind the dissenting stockholder, and he may compel a payment in full of the stock.
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Appeal from Circuit Court, Beadle County. Hon. Arva KTayror, Judge. Action by Henry O. Anderson and others against the Scandia Mining Syndicate and others. From, a judgment of dismissal, plaintiffs appeal. While the contract for the payment of stock at less than par may be binding between the corporation and the purchasing stockholder, and stockholders consenting thereto, it does not bind the dissenting stockholder, and he may compel a payment in full of the stock. A dissenting stockholder, where the stock has been issued, may maintain a suit to annul and cancel it in the hands of the…
1Opinion of the CourtCorson, J.
This is an appeal by the plaintiffs from a judgment entered in favor of the defendants dismissing the complaint. The action was instituted by the plaintiffs to' cancel 1,250,001 shares of the capital stock issued by the defendant corporation standing in the name of Ida C. P>olander, and to amend the records of said company to show said cancellation; that the defendants Ida C. Bolander and H. M. PI. Bolander account to said company for all dividends collected by them upon said stock, and that the said Ida C. Bolander and PI. M. H. Bolander and all *562others claiming under them shall be restrained…
2Cases cited15 opinions
- Townsend v. VanderwerkerSupreme Court of the United States · 1895
- Citizens' National Bank v. JudyIndiana Supreme Court · 1896
- Nelson & Hatch v. DunnSupreme Court of Alabama · 1849
- Verdugo Ca&209on Water Co. v. VerdugoCalifornia Supreme Court · 1908
- Stiger v. BentIllinois Supreme Court · 1884
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3Cited by13 opinions
- Hanrahan v. AndersenMontana Supreme Court · 1939
- Axford v. Western Syndicate Investment Co.Supreme Court of Minnesota · 1918
- Simons v. ThompsonCourt of Appeals for the Sixth Circuit · 1923
- Walton v. Standard Drilling Co.South Dakota Supreme Court · 1921
- Koenkamp v. PicassoSouth Dakota Supreme Court · 1935
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