Gray Const. Co. v. Hyde

This case is before the court upon a rehearing heretofore granted. The former opinion of the court is reported in 49 S. D. 543, 207 N. W. at page 536. Oral arguments were made by counsel, and exhaustive briefs have been filed. The briefs, as well as the many cases cited therein, have been examined and given careful consideration. It is pointed out by counsel that we were mistaken in our opinion, in assuming that, appellants were directors of the defunct corporation. It is true that some of the appellants were not directors and never took any part in the activities of the corporations, but…