Lark Equity Exchange v. Jones
North Dakota Supreme Court
Appeal from tbe District Court of Grant County, Hanley, J., and Nuessle, Special Judge. “Dividends can be declared only from surplus profits derived from the business.” Comp. Laws 1913, § 4543; 10 Cyc. 549, and cases cited under note 38. “In an action at law tried before a court, no motion for directed verdict is necessary in order to enable the supreme court to grant such motion.” 167 N. W. 72; Comp.
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Appeal from tbe District Court of Grant County, Hanley, J., and Nuessle, Special Judge. “Dividends can be declared only from surplus profits derived from the business.” Comp. Laws 1913, § 4543; 10 Cyc. 549, and cases cited under note 38. “In an action at law tried before a court, no motion for directed verdict is necessary in order to enable the supreme court to grant such motion.” 167 N. W. 72; Comp. Laws 1913, § 7637. “A party who has submitted his cause to trial by the court without a jury may be estopped to assign lack of waiver of his right to trial by jury as reversible error on…
1Opinion of the Court
Christianson, Ch. J.
The plaintiff corporation brought this action to recover back from the defendant the sum of $244.79, which it is alleged that the plaintiff corporation paid to the defendant as one of its stockholders as a dividend. The complaint alleges in substance that in June, 1916, the manager of the plaintiff corporation rendered a statement to its stockholders, and that the directors of the corporation relying upon the correctness of such statement, declared a dividend whereby the said sum of $244.79 was paid to the defendant as his proportionate share of the dividend so declared;…
2Cases cited6 opinions
- McDonald v. WilliamsSupreme Court of the United States · 1899
- State Bank v. MaierNorth Dakota Supreme Court · 1916
- Lawrence v. GreenupCourt of Appeals for the Sixth Circuit · 1899
- New Hampshire Sav. Bank v. RicheyCourt of Appeals for the Eighth Circuit · 1903
- Great Western Min. & Mfg. Co. v. HarrisCourt of Appeals for the Second Circuit · 1903
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Baird v. First National BankNorth Dakota Supreme Court · 1931
- Fuller v. ReedNorth Dakota Supreme Court · 1931
- Ulness v. DunnellNorth Dakota Supreme Court · 1931
- Baird v. NicholsonNorth Dakota Supreme Court · 1931
- Rohrville Farmers Union Elevator Co. v. FrisonNorth Dakota Supreme Court · 1950
1 more not listed; retrieve them via the Exa API.