Lenhart v. Lenhart Wagon Co.

Hilton, Justice.

This appeal is from an order denying a motion of a minority stockholder, made on behalf of a corporation, to set aside for fraud a default judgment obtained against it by its principal director, stockholder, and officer.

On demurrer to the moving papers these facts appear. The Lenhart Wagon Company, a family corporation, in 1930 owed its president, Frank F. Lenhart, director and chief stockholder, $18,000 for back salary. Through the issuance of 180 shares of stock, this indebtedness was compromised. In addition to the father, participating in this settlement were Roy F.…