Citizens' State Bank v. McGraft Lumber Co.
Michigan Supreme Court
Appeal from St. Joseph; Yaple, J. Bill by the Citizens’ State Bank of Sturgis against the Sturgis Fair Association to foreclose a mortgage. The McGraft Lumber Company and others were made parties as subsequent incumbrancers. From a decree for complainant, defendant lumber company appeals.
1Opinion of the CourtMontgomery, C. J.
This is a bill filed to foreclose a mortgage given by the Sturgis Fair Association to the complainant on the 29th of July,' 1893, to secure certain outstanding obligations. The defendant McGraft Lumber Company is made defendant as a subsequent purchaser or incumbrancer. A considerable number of questions are discussed, but the controversy may be narrowed by a statement. The fair association is organized under Act No. 6 of the Public Acts of 1889. By section 9 of this act it is provided that:
‘ ‘ Said corporation shall also have power, when authorized by a majority vote of the stockholders…
2Cases cited5 opinions
- Beecher v. Marquette & Pacific Rolling Mill Co.Michigan Supreme Court · 1881
- Kendall v. BishopMichigan Supreme Court · 1889
- Campbell v. Argenta Gold & Silver Min. Co.U.S. Circuit Court for the District of Montana · 1892
- Hervey v. Illinois Midland Ry. Co.United States Circuit Court · 1884
- McKee v. Grand Rapids & Reed's Lake Street Railway Co.Michigan Supreme Court · 1879
3Cited by2 opinions
- Mintz v. JacobMichigan Supreme Court · 1910
- Hallett v. GordonMichigan Supreme Court · 1901