Downer v. Union Land Co.
Supreme Court of Minnesota
Action in tbe district court for Ramsey county to recover from defendant land company, and its stockholders tbe balance of plaintiff’s judgment, amounting to $3,955.96, with interest; that tbe agreement by which seventeen thousand shares of defendant land company were issued as full paid stock be adjudged fraudulent and void as to plaintiff; that the court ascertain the true value of the land conveyed to the company in exchange for the stock and the percentage of…
Read the full summary
Action in tbe district court for Ramsey county to recover from defendant land company, and its stockholders tbe balance of plaintiff’s judgment, amounting to $3,955.96, with interest; that tbe agreement by which seventeen thousand shares of defendant land company were issued as full paid stock be adjudged fraudulent and void as to plaintiff; that the court ascertain the true value of the land conveyed to the company in exchange for the stock and the percentage of overvaluation at which the land was so taken, and that plaintiff recover from each of defendants other than the Union Land Company…
1Opinion of the CourtStart, C. J.
This is an appeal by the plaintiff from an order of the district court of the county of Ramsey overruling his demurrer to the second alleged defense in the answer of the defendant Willius.
The action was commenced in December, 1909. The here material allegations of the complaint, briefly stated, are to the effect following : The defendant Union Land Company, hereafter referred to as the company, is and has been since 1887 a corporation for pecuniary profit duly organized under the laws of this state. On April 5, 1887, .it issued seventeen thousand shares of its capital stock, of the par value…
2Cases cited14 opinions
- Hospes v. Northwestern Manuf'g & Car Co.Supreme Court of Minnesota · 1892
- First National Bank v. Gustin Minerva Consolidated Mining Co.Supreme Court of Minnesota · 1890
- Basshor v. ForbesCourt of Appeals of Maryland · 1872
- Duxbury v. BoiceSupreme Court of Minnesota · 1897
- Morrill v. Little Falls Manufacturing Co.Supreme Court of Minnesota · 1893
9 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Continental Corp. v. GowdyMassachusetts Supreme Judicial Court · 1933
- Preston v. HowellSupreme Court of Iowa · 1934
- Babbitt v. ReadCourt of Appeals for the Second Circuit · 1916
- Warner v. E. C. Warner Co.Supreme Court of Minnesota · 1948
- First Trust Co. v. Illinois Cent. R.Court of Appeals for the Eighth Circuit · 1919
9 more not listed; retrieve them via the Exa API.