Browning v. Hinkle
Supreme Court of Minnesota
Appeal by plaintiff, Emmett P. Browning, assignee, from an order of the district court of Hennepin' county, Pond, J., made July 10, 1891, refusing a new trial. The Price-Condit Fence Company was incorporated October 1,1886, under 1878 G. S. ch. 34, tit. 2. Its capital stock was $80,000, divided into 1,600 shares of $50 each. The corporation issued to defendant, William H. Hinkle, on January 13,1887, fifty of these shares.
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Appeal by plaintiff, Emmett P. Browning, assignee, from an order of the district court of Hennepin' county, Pond, J., made July 10, 1891, refusing a new trial. The Price-Condit Fence Company was incorporated October 1,1886, under 1878 G. S. ch. 34, tit. 2. Its capital stock was $80,000, divided into 1,600 shares of $50 each. The corporation issued to defendant, William H. Hinkle, on January 13,1887, fifty of these shares. He bought them of his brother-in-law, Foote, who caused them to be issued directly to defendant. The corporation became insolvent, and on November 4, 1890, made an…
1Opinion of the CourtDickinson, J.
This is an action by a receiver of an insolvent corporation, the Price-Condit Fence Company, to recover the price of fifty shares of the stock of the corporation, which were issued to the defendant, and for which, as is alleged, only partial payment has been made. It is admitted on the part of the defendant that he did not pay to the corporation the price of the stock, but it is claimed that he did not purchase the stock from the corporation, but from one Foote, one of its members, and that Foote, being entitled to receive the stock, transferred his right to the defendant, and that the…
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