John Miller Co. v. Harvey Mercantile Co.
North Dakota Supreme Court
Action to sequestrate the assets of an insolvent corporation. Appeal from the District Court of Wells County, Honorable J. A. Coffey, Judge. Order for plaintiff overruling demurrers to complaint. If the directors of a corporation have a right to give a preference, then their intent is wholly immaterial and no fraud can be predicated thereon. If they acted with fraudulent intent and such was known to the defendants, such knowledge would not be material.
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Action to sequestrate the assets of an insolvent corporation. Appeal from the District Court of Wells County, Honorable J. A. Coffey, Judge. Order for plaintiff overruling demurrers to complaint. If the directors of a corporation have a right to give a preference, then their intent is wholly immaterial and no fraud can be predicated thereon. If they acted with fraudulent intent and such was known to the defendants, such knowledge would not be material. Knowledge of the intent of a seller by a purchaser may affect the sale, but not knowledge acquired by a creditor. Lockren v. Rustan, 9 N. D.…
1Opinion of the Court
Bruce, Oh. J.
This is an appeal from an order overruling a demurrer to a complaint.
The action is brought under articles 2 and 4 of the Code of Civil Procedure, and particularly §§ 7989 et seq. of the Compiled Laws of 1913, and is known as a sequestration proceeding, its purpose being to obtain an equal distribution of the property of an insolvent corporation among its various creditors.
The complaint alleges the incorporation of the defendant, the Harvey Mercantile Company, the ownership of its capital stock by the defendants Sayre, Strong, Beiseker and Sayre, Strong Grain & Merchandise…
2Cases cited13 opinions
- Bosworth v. . AllenNew York Court of Appeals · 1901
- Billmyer Lumber Co. v. Merchants Coal Co.West Virginia Supreme Court · 1910
- Lockren v. RustanNorth Dakota Supreme Court · 1899
- Buck v. RossSupreme Court of Connecticut · 1896
- Adams & Westlake Co. v. DeyetteSouth Dakota Supreme Court · 1895
8 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- John Miller Co. v. Harvey Mercantile Co.North Dakota Supreme Court · 1920
- Farmers State Bank of Richardton v. BrownNorth Dakota Supreme Court · 1925
- Baird v. First National BankNorth Dakota Supreme Court · 1927
- Phillips v. PhillipsNorth Dakota Supreme Court · 1925
- Lyness v. Kuske Realty Co.North Dakota Supreme Court · 1926
2 more not listed; retrieve them via the Exa API.