Melady-Briggs Cattle Corp. v. Drovers State Bank

Gallagher, Chief Justice.

Plaintiff, a South Dakota corporation, sued defendant, a Minnesota bank, for money had and received. Defendant answered setting up a judgment in a former action between the parties as a bar. On the pleadings and an agreed statement of facts, the trial court ordered judgment for defendant, from which plaintiff appeals.

These facts appear from the pleadings and stipulation: At all times here important, S. J. Melady was president and sole managing officer of plaintiff. He and his wife, Isabelle Melady, owned 45 per cent of its capital stock; Harry Briggs, a resident of…