James v. Pontiac & Groveland Plank Road Co.
Michigan Supreme Court
Questions reserved from Oakland Circuit. In October, 1857, the plaintiffs recovered against the 'defendants, in the Circuit Court for the county of Oakland, a judgment for. $641 57, upon which execution was issued January 14th 1858. On this execution, the sheriff proceeded to sell the corporate franchises of defendants, and they were struck off, as the sheriff returns, to John G. Owen, “for the period of fifty years, and for the sum of sixty dollars; that being the largest…
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Questions reserved from Oakland Circuit. In October, 1857, the plaintiffs recovered against the 'defendants, in the Circuit Court for the county of Oakland, a judgment for. $641 57, upon which execution was issued January 14th 1858. On this execution, the sheriff proceeded to sell the corporate franchises of defendants, and they were struck off, as the sheriff returns, to John G. Owen, “for the period of fifty years, and for the sum of sixty dollars; that being the largest sum of money and the shortest period of time bid by any person.” June 18, 1859, defendants moved to set aside this sale,…
1Opinion of the Court
Martin, Oh. J.:
By a general statute of this state relative to corpora-*93tions (Comp. Laws, Ch. 13), provision is made for the sale upon execution of the franchises of a class of corporations within which this defendant is embraced. These provisions are substantially as follows: When any judgment shall be recovered against any turnpike or other corporation authorized to receive toll, the franchise of such corporation, with all the rights and privileges thereof, together with all their corporate property, both real and personal, may be taken on execution and sold at public auction. This sale of…
2Cited by4 opinions
- Van Norman v. Circuit JudgeMichigan Supreme Court · 1881
- Joy v. Jackson & Michigan Plank Road Co.Michigan Supreme Court · 1863
- City of Palestine v. BarnesTexas Supreme Court · 1878
- Northern Pacific R. R. v. ShimmellMontana Supreme Court · 1886