Wisconsin Club v. John

The stock subscription agreement and the provision printed on the face of the stock certificates constitute a contract and fix the rights of the club and the company stockholders. Appellant makes several contentions to the contrary: (1) Appellant claims that under the statute existing at time of the organization of the company the agreement above mentioned is void. He relies in support of this contention upon sec. 1775, Sanborn & Berryman’s Ann. Stats. 1889, which provided at the time of the organization of each corporation that one corporation could not take or hold the stock of another…