Gunnison v. United States Investment Co.
Supreme Court of Minnesota
Appeal by plaintiff from a judgment of the district court for Hennepin county in favor of defendant Turnblad, entered pursuant to findings of Belden, J., and an order for judgment.
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Appeal by plaintiff from a judgment of the district court for Hennepin county in favor of defendant Turnblad, entered pursuant to findings of Belden, J., and an order for judgment. Can the registered holder of stock in a corporation discharge himself from liability by presenting his certificate for transfer, where such transfer is refused and the certificate retained by him? Ordinarily the liability to creditors attaches to those who are registered stockholders at the time action is begun. Turnblad was a registered stockholder at the time this action was instituted. Hence he is liable unless…
1Opinion of the CourtStart, C. J.
This is an action under chapter 76, G. S. 1894, to enforce the liability of the stockholders for the debts of the defendant corporation. The only defendant that answered was Swan J. Turnblad, as to whom the trial court directed a dismissal of the action. Judgment was so entered from which the plaintiff appealed. The trial court found that the plaintiff was a judgment creditor of the corporation, that execution on his judgment had been returned unsatisfied and that no other creditor of the corporation had proved his claim against the corporation. It was also found that the defendant Turnblad…
2Cases cited1 opinion
- In re People's Live Stock InsuranceSupreme Court of Minnesota · 1894
3Cited by6 opinions
- Way v. MooersSupreme Court of Minnesota · 1917
- Crowley v. PottsSupreme Court of Minnesota · 1930
- Tiffany v. GiesenSupreme Court of Minnesota · 1905
- Hamilton v. LevisonU.S. Circuit Court for the District of Southern New York · 1911
- Hamilton v. LoebU.S. Circuit Court for the District of Eastern Pennsylvania · 1910
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