Horning v. Louis Peters & Co.
Michigan Supreme Court
Error to Wayne; Codd, J. Case by Emma C. Horning against Louis Peters & Company and others for breach of an alleged trust agreement. Judgment for defendants on a directed verdict. Plaintiff brings error.
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Error to Wayne; Codd, J. Case by Emma C. Horning against Louis Peters & Company and others for breach of an alleged trust agreement. Judgment for defendants on a directed verdict. Plaintiff brings error. In this action plaintiff seeks to recover from defendants the sum of $9,500. Her alleged right of action grows out of a very complicated state of facts which may be briefly stated as follows: In the year 1900 or 1901, the corporation of Gustav A. Moebs & Co. was formed with a capital stock of $75,000, all of which stock was and continued to be the property of Gustav A. Moebs. The business of…
1Opinion of the CourtBrooke, J.
(after stating the facts). It is, we think, apparent that all the contracts above outlined or set forth must be construed together to ascertain the intention of the parties. A consideration of their contents and the testimony introduced leads to the conclusion that in December, 1910, the Gustav A. Moebs Co. was in such financial straits that it was impossible for it to continue in business unless immediate relief was forthcoming. While the nominal assets at that time slightly exceeded the liabilities it cannot be doubted that a liquidation of the concern at that time would not have produced…
2Cases cited1 opinion
- Talbot v. ScrippsMichigan Supreme Court · 1875
3Cited by7 opinions
- Dean v. KelloggMichigan Supreme Court · 1940
- Jaffe v. HarrisMichigan Court of Appeals · 1981
- Curtiss v. WilmarthMichigan Supreme Court · 1931
- Baker v. SuttonCourt of Appeals of Georgia · 1933
- Futernick v. Statler Builders, Inc.Michigan Supreme Court · 1961
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