Traer v. Lucas Prospecting Co.
Supreme Court of Iowa
Appeal from Wapello District Court. — Hon. Eobert Sloan, Judge. Suit in equity, praying that the defendant Lucas Prospecting Company be restrained from selling or transferring its property, and that certain notes and mortgages executed by it be adjudged void and canceled.
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Appeal from Wapello District Court. — Hon. Eobert Sloan, Judge. Suit in equity, praying that the defendant Lucas Prospecting Company be restrained from selling or transferring its property, and that certain notes and mortgages executed by it be adjudged void and canceled. The Lucas Prospecting Company was incorporated under the general incorporation law of this State (Code, title 9, page 587) on the fifteenth day of January, 1898, with a capital stock of twenty thousand dollars. Its articles of incorporation provided as follows : “ The business of this corporation shall be to purchase and to…
1Opinion of the CourtSherwin, J.
The relief sought by the plaintiff is twofold: He prays that the contract between the Lucas Prospecting Company' and the Inland Coal Company, and the transfer of the Lucas Company’s property to the Inland Fuel Company pursuant to said contract, ’be set aside and declared void, because ultra vires, and that the mortgages executed by the Lucas Company to the coal company be declared void so far as they exceed the limit of indebtedness fixed by the articles of incorporation of the former company.
*1121. Charters. On the first of these propositions, it is contended that the contract in question was an…
2Cases cited25 opinions
- People v. . BallardNew York Court of Appeals · 1892
- Buell v. Buckingham & Co.Supreme Court of Iowa · 1864
- Booth v. RobinsonCourt of Appeals of Maryland · 1881
- Miners' Ditch Co. v. ZellerbachCalifornia Supreme Court · 1869
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
20 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Rath v. Rath Packing CompanySupreme Court of Iowa · 1965
- Beidenkopf v. Des Moines Life InsuranceSupreme Court of Iowa · 1913
- Butler v. New Keystone Copper CompanyCourt of Chancery of Delaware · 1915
- Graeser v. Phoenix Finance Co.Supreme Court of Iowa · 1934
- Mason v. Mallard Telephone Co.Supreme Court of Iowa · 1932
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