Smith v. Hutchinson Box Board & Paper Co.

Citations

• 101 Kan. 274
• 166 P. 484
• 1917 Kan. LEXIS 73

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Contract — Debtor of Insolvent Corporation — Agreement to Accept Stock in New Corporation in Payment — Stock Refused — Debt Canceled. Where an insolvent corporation’s debtor, for the amount of his claim, agrees to accept stock in a new corporation organized to protect creditors and those interested in the old corporation and to take over its business, and the stock is issued and tendered to such debtor, but is refused by him, his claim against the old corporation is canceled.</p> <p>2. Same.— Trial — Instructed Verdict• — Error. In a jury trial where there is evidence which tends to prove a cause of action in favor of the plaintiff, it is error for the court to instruct the j’ury to return a verdict in favor of the defendant.</p> <p>3. Same. Where each of the parties to an action requests the court to instruct the j’ury to return a verdict in his favor, neither party consents that the court may ■withdraw the case from the consideration of the jury, or give a peremptory instruction in favor of the other party.</p>