Restlawn Memorial Park Asso. v. Solie

The principal facts were stipulated. The facts not stipulated presented no material dispute. The plaintiff, at all times to be mentioned, owned and operated a cemetery in or near to the city of Wausau. Its authorized capital stock was two hundred fifty shares of the par value of $100. In 1930 the defendant purchased from the plaintiff ten shares of its stock for $1,000. Later on he was elected to the plaintiff’s board of directors. By December of 1930 the plaintiff’s financial condition was poor. At a directors’ meeting, held December 1, 1930, attended by all of the directors, the following…