(Download) "Speer v. Dighton Grain" by Supreme Court of Kansas * eBook PDF Kindle ePub Free
eBook details
- Title: Speer v. Dighton Grain
- Author : Supreme Court of Kansas
- Release Date : January 28, 1981
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 63 KB
Description
The opinion of the court was delivered by This is one of twenty-two separate lawsuits arising in the wake of the insolvency and closing of Dighton Grain, Inc., a grain elevator corporation in Dighton, Kansas. The plaintiff sues as an unsecured creditor of the corporation. The action is brought by this creditor against the corporation and against the directors and corporate officers individually. The jury determined that these directors and corporate officers were grossly negligent in the performance of their corporate duties. The plaintiff creditor obtained personal judgments of $31,512.87, $15,756.44 and $15,756.44 against Leo, Brenda and Rhonda Meeker, respectively. Certain background facts will be helpful in understanding the legal issues. Leo Meeker and his two daughters, Brenda and Rhonda, joined with Walter Gormley in organizing Dighton Grain, Inc., for the purpose of carrying on the grain business. The three Meekers are engaged also in farming approximately 1400 acres of irrigated land in Finney County, Kansas. On organization it was understood that Walter Gormley would be the manager in charge of this newly formed grain business. These four individuals were the stockholders and directors of the corporation. Leo Meeker was elected president; Gormley was elected vice-president; [229 Kan. 274]