Lake Phalen Land & Improvement Co. v. Lindeke
Supreme Court of Minnesota
Appeal by defendants from a judgment of the district court for Bamsey county, in favor of plaintiff, entered in pursuance of the findings and order of Otis, J.
1Opinion of the CourtCanty, J.
The plaintiff is a corporation organized under the laws of this state. Its articles of incorporation provide that its capital stock shall be paid for as follows: “Five per cent, of the amount of stock subscribed shall be paid in when taken, and the remainder shall be paid in when called for by vote of the board of directors.”
In February, 1889, William Lindeke subscribed for 500 shares of this stock, of the par value of $50 per share, and agreed to pay for the same as provided in the articles of incorporation. He paid a part of the amount, and thereafter, in March, 1892, he died intestate.…
2Cases cited2 opinions
- Hantzch v. MassoltSupreme Court of Minnesota · 1895
- State ex rel. Slingerland v. NortonSupreme Court of Minnesota · 1894
3Cited by10 opinions
- City of Springfield v. ClementMissouri Court of Appeals · 1920
- South Milwaukee Co. v. MurphyWisconsin Supreme Court · 1902
- Chitty v. GillettSupreme Court of Oklahoma · 1915
- Dent v. MattesonSupreme Court of Minnesota · 1897
- Rankin v. City of Big RapidsCourt of Appeals for the Sixth Circuit · 1904
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