BECKMAN v. UNIVERSAL ENTERPRISES, INC.

No. CO-84-2002.

367 N.W.2d 577 (1985)

Gary BECKMAN as Personal Representative for the Estate of Virginia Beckman, Respondent, v. UNIVERSAL ENTERPRISES, INC., et al., Appellants.

Court of Appeals of Minnesota.

May 14, 1985.


Attorney(s) appearing for the Case

Mark S. Povalski, Minneapolis, for respondent.

Stephan A. Pezalla, Golden Valley, for appellants.

Considered and decided by NIERENGARTEN, P.J., and FOLEY and LESLIE, JJ., with oral argument waived.


OPINION

FOLEY, Judge.

The shareholders of Universal Enterprises entered into a voluntary liquidation but disputed the proper valuation of the assets. The narrow issue at trial was whether accrued interest on certain promissory notes given by defendant-appellant Universal to defendant-appellant William F. Stake was a valid liability of the corporation. The case was tried to the court without a jury. The court held that the accrued interest was not a liability...

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