Mackall v. Pocock
Supreme Court of Minnesota
Action in the district court for Ramsey county by the trustee in bankruptcy of the Acme Tag & Manufacturing Company to recover $44.20. The case was submitted upon stipulated facts to Dickson, J., who ordered judgment in favor of defendant. From the judgment entered pursuant to the order for judgment, plaintiff appealed.
1Opinion of the CourtBunn, J.
Plaintiff, as trustee in bankruptcy of the Acme Tag & Manufacturing Company, a domestic manufacturing corporation, brought this action to recover of defendant, a stockholder, unearned dividends paid to defendant by the corporation. The facts were stipulated. The court found as a conclusion of law that plaintiff was not entitled to recover. Judgment' was entered accordingly, and plaintiff appealed.
The question is whether or not dividends paid to stockholders out of the capital of a corporation, at a time when the corporation had made no profits, owed debts, but was nevertheless solvent, can be…
2Cases cited18 opinions
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- Handley v. StutzSupreme Court of the United States · 1891
- Graham v. Railroad Co.Supreme Court of the United States · 1880
- Hospes v. Northwestern Manuf'g & Car Co.Supreme Court of Minnesota · 1892
- McDonald v. WilliamsSupreme Court of the United States · 1899
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3Cited by15 opinions
- Johnson v. Canfield-Swigart Co.Illinois Supreme Court · 1920
- Bartlett v. SmithCourt of Appeals of Maryland · 1932
- In Re Fergus Falls Woolen Mills Co.District Court, D. Minnesota · 1941
- Lebens v. NelsonSupreme Court of Minnesota · 1921
- First Trust Co. v. Illinois Cent. R.Court of Appeals for the Eighth Circuit · 1919
10 more not listed; retrieve them via the Exa API.