Kwikie Minit Markets, Inc. v. Hutner

Nature op the Appeal

Staton, J.

Kwikie Minit Markets was incorporated in 1962 to engage in the grocery business in Fort Wayne, Indiana. The capitalization of the corporation was effected by the issuance of stock and debentures to David S. Hutner, hereinafter referred to as Hutner, and Haskell B. Schultz, Richard Means, John N. Welch, Robert E. Meyers and Richard Lehman, hereinafter referred to as the Directors. Hutner received 100 shares of common stock and six (6) bonds with a face value of $1,000.00. The corporation did not do as well as the investors had hoped and in an effort to improve the…