(DOWNLOAD) "Michigan Wolverine Student Co-Operative V." by Supreme Court of Michigan ~ eBook PDF Kindle ePub Free
eBook details
- Title: Michigan Wolverine Student Co-Operative V.
- Author : Supreme Court of Michigan
- Release Date : January 13, 1946
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 71 KB
Description
BOYLES, J. In this case a bill of complaint was filed by plaintiff corporation to set aside a deed of its real property to the defendant, on the ground that it had been executed and delivered by plaintiff's officers by authority of its directors without the consent of its members, contrary to the provisions of section 57 of the general corporation act.* Plaintiff is a Michigan nonprofit corporation organized for the purpose of promoting student welfare at Ann Arbor. The defendant is a Michigan corporation carrying on a mercantile business in the city of Ann Arbor. The Ann Arbor Trust Company was also made a defendant when the bill of complaint was filed, but on motion the case was dismissed as to the trust company, and no appeal has been taken from the order of dismissal. The circuit Judge denied cancellation of the deed and from the decree entered thereon plaintiff appeals. Prior to April 6, 1944, the plaintiff Co-operative was the owner of certain real estate on South State street in Ann Arbor where it conducted a restaurant business and also rented some second-floor rooms. Its active membership consisted of and was limited to students in the university. To become a member, the student paid a $5 fee and signed a membership card, whereupon his membership card was added to the card index of membership. The student continued as a member only so long as he was an actual student enrolled in the university. It was then customary to return the $5 membership fee when the student was no longer in the university. At one time, when student enrollment in the university was high, plaintiff Co-operative had over 500 members. Due to war conditions and lack of student enrollment, the membership had dwindled to 106 members in 1944 when the deed in question was given, and these were ""somewhat scattered"" due to war conditions.