North Side State Bank v. Manthey
North Side State Bank v. Manthey
Opinion of the Court
Action to restrain the defendant from interfering with the conduct and management of the North Side Investment & Insurance Agency. Upon application, of the plaintiff a temporary injunction issued. Defendant appeals.
The plaintiff is a state bank in Minneapolis. The North Side Investment & Insurance Agency does a real estate and insurance brokerage business. The plaintiff bank claims that the agency is a part of the bank; that the bank owns and conducts the business
But the defendant claims that all this granted, the plaintiff should not have an injunction. The reason assigned is that it was acting ultra vires in conducting a real estate and insurance business. This contention does not bear analysis. Whether the plaintiff was acting ultra vires is unimportant here. The state does not object. No one contracting with the plaintiff objects. The defendant is not a dissenting stockholder. He is a discharged employe. See Dunnel, Minn. Dig. 1916 and 1921 Supps. § 2026. Let it be conceded that the business conducted by the bank under the name assumed is ultra vires. The bank is not an outlaw, with the ultra vires business of which a stranger may interfere at his will, and against which interference an injunction may not issue.
Order affirmed.
Reference
- Full Case Name
- NORTH SIDE STATE BANK v. AARON MANTHEY
- Status
- Published