Feld v. Roanoke Investment Co.
Supreme Court of Missouri
Appeal from Jackson Circuit Court. — Hon. J. H. Sloven,, Judge. (1) The power of a trustee to release a deed of trust can only be a power to release upon payment. There was no payment of the indebtedness secured by the first deed of trust on the ninety-one acre tract. The release made by Winant’s trustee, was, therefore, void. Lakenan v. Robarás, 9 Mo.
Read the full summary
Appeal from Jackson Circuit Court. — Hon. J. H. Sloven,, Judge. (1) The power of a trustee to release a deed of trust can only be a power to release upon payment. There was no payment of the indebtedness secured by the first deed of trust on the ninety-one acre tract. The release made by Winant’s trustee, was, therefore, void. Lakenan v. Robarás, 9 Mo. App. 179; Armstrong v. Robarás, 81 Mo. 445; Ferguson v. Qlassford, 68 Mich. 36; s. c., 35 N. W. Rep. 820. (2) A board of directors does not have authority to wind up the business of a corporation. Such astep can only be taken by the…
1Opinion of the CourtBurgess, J.
— On the ninth day of May, 1882, the Kansas City ¡Interstate Fair was duly incorporated under the laws of this state for the purpose of encouraging agriculture, and on May 25, 1882, one McGee and wife conveyed to it ninety-two and three-tenths acres of ground for $39,227.50. It also acquired by purchase a smaller tract of thirty rsix acres for the same purpose, fair grounds.
The property having largely increased in value the stockholders determined to wind up the affairs of the corporation and as it could not engage in selling lands under its charter, a new company, called the Roanoke…
2Cases cited10 opinions
- St. Louis, Vandalia & Terre Haute Railroad v. Terre Haute & Indianapolis RailroadSupreme Court of the United States · 1892
- Dimpfell v. Ohio & Mississippi Railway Co.Supreme Court of the United States · 1884
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
- Bank of Fort Madison v. AldenSupreme Court of the United States · 1889
- Evans v. Missouri, Iowa & Nebraska Railway Co.Supreme Court of Missouri · 1877
5 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Borgess Investment Co. v. VetteSupreme Court of Missouri · 1898
- Tanner v. Lindell Railway Co.Supreme Court of Missouri · 1904
- Exchange Bank of Novinger v. TurnerSupreme Court of Missouri · 1929
- Kelly v. StaedSupreme Court of Missouri · 1896
- Santa Fe Hills Golf & Country Club v. Safehi Realty Co.Supreme Court of Missouri · 1961
7 more not listed; retrieve them via the Exa API.