Spaulding v. North Milwaukee Town Site Co.
Wisconsin Supreme Court
Appeals from a judgment of the superior court of Milwaukee county: Geo. E. Sutheeland, Judge. In this case the active defendants are Willis A. Meyer and Otto Finely together, as the firm of Meyer & Finck; Charles A. Maynard and A. D. Agnew, together, as the firm of May-narcl & Agnew; and Win J. Morga/n. They will be designated as “the defendants” hereinafter. The North Milwaukee Town Site Company will be designated as “the corporation.”
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Appeals from a judgment of the superior court of Milwaukee county: Geo. E. Sutheeland, Judge. In this case the active defendants are Willis A. Meyer and Otto Finely together, as the firm of Meyer & Finck; Charles A. Maynard and A. D. Agnew, together, as the firm of May-narcl & Agnew; and Win J. Morga/n. They will be designated as “the defendants” hereinafter. The North Milwaukee Town Site Company will be designated as “the corporation.” Morasen is not a party to the appeal, the judgment dismissing the complaint as to him not being complained of. The overwhelming preponderance of the evidence…
1Opinion of the Court
The following opinion was filed February 27, 1900:
Dodge, J.
The proposition of law with which the judgment appealed from seems most nearly consistent is that if the owners create a corporation and turn over their property to it at a price exceeding its cost to them, they may be held to account to the corporation for the difference between such cost and the price to the corporation. On no narrower rule could be predicated liability against defendants Morgan, Maynard, and Agnew, who were wholly innocent, not only -of misrepresentation, but of knowledge that any subscriber was in ignorance of any…
2Cases cited11 opinions
- Zinc Carbonate Co. v. First National Bank of ShullsburgWisconsin Supreme Court · 1899
- Land, Log & Lumber Co. v. McIntyreWisconsin Supreme Court · 1898
- Getty v. . DevlinNew York Court of Appeals · 1873
- Pittsburg Mining Co. v. SpoonerWisconsin Supreme Court · 1889
- Franey v. WarnerWisconsin Supreme Court · 1897
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3Cited by17 opinions
- Luther v. C. J. Luther Co.Wisconsin Supreme Court · 1903
- Pietsch v. MilbrathWisconsin Supreme Court · 1905
- Borak v. J. I. Case Co.Court of Appeals for the Seventh Circuit · 1963
- Figge v. BergenthalWisconsin Supreme Court · 1907
- In re El Paso Pipeline Partners, L.P. Derivative LitigationCourt of Chancery of Delaware · 2015
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