Red Wing Hotel Co. v. Friedrich
Supreme Court of Minnesota
Plaintiff brought this action in the district court for Good-hue county, to recover the amount of a subscription made by-defendants to its capital stock. The complaint alleges that-at the several times therein mentioned, the plaintiff was and now is “a corporation duly organized and created under the-laws of the state of Minnesota,” but does not state the object or any of the powers of such corporation.
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Plaintiff brought this action in the district court for Good-hue county, to recover the amount of a subscription made by-defendants to its capital stock. The complaint alleges that-at the several times therein mentioned, the plaintiff was and now is “a corporation duly organized and created under the-laws of the state of Minnesota,” but does not state the object or any of the powers of such corporation. It further alleges that by the articles of incorporation, which were signed by each of the defendants, (who were partners in business,) the capital stock was fixed at $50,000, divided into…
1Opinion of the CourtCornell, J.
The principal objection urged to the sufficiency of the complaint is founded upon the assumption that the condition annexed to the defendants’ subscription of stock was a condition precedent, the performance of which had not been complied with by the building of a hotel on the designated site, at the time the assessments were made, the payment of which it is the object of this action to enforce. The subscription paper, which was signed by the defendants and •others, is set forth in the complaint <as follows: “We, the subscribers, each for himself, and not for the others or any of them, do…
2Cases cited1 opinion
- City of Cincinnati v. RiceOhio Supreme Court · 1846
3Cited by7 opinions
- Minneapolis Threshing Machine Co. v. DavisSupreme Court of Minnesota · 1889
- San Joaquin Land & Water Co. v. BeecherCalifornia Supreme Court · 1894
- Marysville Electric Light & Power Co. v. JohnsonCalifornia Supreme Court · 1892
- Busch v. Stromberg-Carlson Telephone Mfg. Co.Court of Appeals for the Eighth Circuit · 1914
- O'Dell v. Appalachian Hotel Corp.Supreme Court of Virginia · 1929
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