The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-07
LOT Of DECISIONS
THIRTEEN OPINIONS AND ORDERS
OF THE SUPREME COURT ARE
FILED.
ARE VERY FEW REVERSALS.
RJI,ING ON THE POINT OF STOCk
TRANSFERRED AND NOT RE-
CORDED.
CoIIEGE CASE RULING MODIFIED.
poIief i'm Judgment by Default
should He Limited to That
Asked For.
ARE VERY FEW REvERSALS'
CASE RULING MODIFIED.

Chief Justice Start and Justice BUCK,
pf the supreme court, handed down
thirteen decisions yesterday, nearly all
of them in civil actions. One of inter
est TO stockholders in corporations IS
that of the Prince Investment company
AGAINST the St Paul and Sioux CITY
Land company, holding that transfer
of stock in corporation may be VaHa
even though it is not recorded on the
books of the company. NUMBER Oh
other interesting points are ruled upon
In the case of Eliza j. Phillips VS..
Wade Baker ct al, it is held that a
mortgage given by husband TO his
wife. though the couple be separated,
is invalid and will constitute no lien
upon the estate, under the law when
prohibits contracts between husband
and wife relative to real estate OF
either.
The judgment of the trial court is
modified in the case OF the Northern
Trust company against Albert Lea col
lege and R. B. Abbott. The supreme
court holds that the power of the court
TO grant relief in a judgment by default
is limited to the demand in the COM
plant, and that the judge in this case
granted relief to the plaintiff in excess
of that prayed in the complaint.
In the case of Bernard Overman, re-
spondent VS.. Henry Loebertmann, ap-
pellant it is held that partial payments
are sufficient evidence that the debt IS
recognized and it is not necessary to
plead implied promises.
In the case of Harold Thorson VS..
Ole Saube, justice ordered a verdict
for the defendant on the ground of
usury, and the district court held that
he should have ordered for the plaintiff,
but instead of so ordering, the district
court merely reversed the decision Of
the justice court. The supreme court
holds that the district court should
have ordered for the plaintiff on the
merits of the case. Following are the
Syllabi:
Prince Investment Company appellant, VS..
The st. Paul and Sioux City Land Company,
respondent.
l. An owner of stock in a corporation issued
under General Statutes 1894, section 2799, is
not incapacitated from transferring it if the
transfer thereof is not entered upon the books
OF the corporation. An assignee OF such stock
without a transfer upon the books of the
corporation has an equitable title which will
be protected as against all parties not showing
d superior right.
3. If corporation formed under General
Statutes 1894, section 2799, has no lien upon
the stock or property Of its members in
vested therein for debts due from them to such
corporation the transfer of such stock would
be so far effectual that complete transfer
upon the books might be compelled by the
equitable owner of the stock, although until
the transfer is properly and legally made on
the books of she corporation the transfer
may be regarded by it as still the holder of
such stock for the purpose of voting and re-
ceiving dividends.
3. Corporations are bound equally as in
dividuals by actual notice of the rights of
others. Hence the lien which a corporation
has upon the stock or property of its MEM
bers invested therein due from them to the
corporation is such as it has acquired in
good faith.
4. Held, also, that the evidence warranted
the trial court in finding that the plaintiff
corporation was chargeable with notice Of