Adams & Westlake Co. v. Deyette

Citations

• 5 S.D. 418
• 59 N.W. 214
• 1894 S.D. LEXIS 75

Syllabus

<p>1. When the evidence upon which a referee bases his findings of facts is not preserved in a bill of exceptions, and the insufficiency of the evidence to sustain such findings is not assigned as error, it will be presumed on appeal that the findings of fact accord with, and are fully sustained by, the evidence.</p> <p>2. A judgment of a trial court, when fully sustained by the findings of fact and conclusions of law, will not be disturbed because a referee fails to find on all the issues raised by the pleadings, when it appears that such issues were not material, and ho findings of fact were presented by the party complaining, and no request was made for additional or more specific findings of fact, or different conclusions of law.</p> <p>3. A corporation in failing circumstances cannot borrow money with which to purchase shares in itself, and give to the persons from whom the loan is made a preference over all other creditors by confessing judgments, when insolvent, in favor of the persons loaning the money with actual knowledge of the purpose for which the same was borrowed, when such conduct works a fraud upon bona fide creditors, and defeats the collection of their claims.</p> <p>4. The purchase of stock as above indicated, and more fully disclosed in the opinion, held to be against public policy, and judgments confessed upon such claims are voidable at the instance of an injured creditor.</p> <p>(Syllabus by the Court.</p>