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COSTELLO v. FARRELL

No. 35,511.

234 Minn. 453 (1951)

HAROLD C. COSTELLO v. ESTHER J. FARRELL. PEPSI COLA BOTTLING COMPANY OF MINNEAPOLIS AND ST. PAUL AND OTHERS, DEFENDANTS.

Supreme Court of Minnesota.

June 29, 1951.

Attorney(s) appearing for the Case

Morgan, Headley, Raudenbush & Morgan and Snyder, Clarke & Dalziel, for appellant.

O'Brien, Horn, Seymour & O'Connor, for respondent Harold C. Costello.

Briggs, Gilbert, Morton, Kyle & Macartney, for respondents Pepsi Cola Bottling Company of Minneapolis and St. Paul, Milford H. Olds, individually and as trustee, and Hope Olson.

MAGNEY, JUSTICE.

By-law 36, one of the original by-laws of defendant Pepsi Cola Bottling Company of Minneapolis and St. Paul, a Minnesota corporation, was adopted by the stockholders at their first meeting on June 30, 1937. It reads as follows:

"36. The corporation shall be entitled to treat the holder of record of any share or shares of stock as the holder in fact thereof and accordingly shall not be bound to recognize any equitable or other claim to or interest...

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