Appellate Court of Illinois, 1914

Smyth-Wales v. John M. Smyth Co.

Smyth-Wales v. John M. Smyth Co.
Appellate Court of Illinois · Decided December 21, 1914 · McSurely
190 Ill. App. 66

Smyth-Wales v. John M. Smyth Co.

Opinion of the Court

Mr. Justice McSurely

delivered the opinion of the court.

4. Injunction, § 88*—what will justify injunction to prevent illegal purchase of stock hy corporation. In an action to enjoin a corporation from illegally purchasing stock of another corporation, evidence that such other corporation increased its stock so that it could use a portion to pay a debt to the defendant corporation would not warrant an injunction, and since the other corporation was not a party to the suit the legality of its increase of stock could not be inquired into. 5. Injunction, § 267*—when injunction will he dissolved. A groundless injunction should not he continued.

Baker, J., dissenting.

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