(Download) "Smyth v. Kaspar Amer. State Bank" by Supreme Court of Illinois " Book PDF Kindle ePub Free
eBook details
- Title: Smyth v. Kaspar Amer. State Bank
- Author : Supreme Court of Illinois
- Release Date : January 23, 1956
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
Rehearing denied September 24, 1956. In a class action, instituted by present and former owners of certificates of beneficial interest, issued by defendant Kaspar
American State Bank pursuant to a plan of reorganization, to enjoin defendant from paying any dividends on its capital stock
until the certificates have been paid, and for other equitable relief, the superior court of Cook County dismissed the major
portion of plaintiffs' complaint for want of equity, and entered a decree for defendant on the pleadings. That decree was
reversed by the Appellate Court, which held that the complaint presented grounds for relief; that the plaintiffs who surrendered
their certificates were not barred by an accord and satisfaction; and that a class suit could be maintained. (6 Ill. App.2d
64.) We have allowed defendant's petition for leave to appeal therefrom.