Show UNIQUE CONTRACT T DECLARED VALID Supreme Court Reverses Case Involving Agreement Be Between Between Between tween Stockholders Stockholders in a Utah corporation may form combinations and make agreements as against other stockholders ers era minority or otherwise and unless fraud coercion or lr duress dur is practiced the courts will not Interfere In Home Iome states such combinations are prohibit prohibited ed by b statute but bitt there thre is no nu statute of the sort In this thin state taU and anti provided the acts of such a combination are not Illegal the tue courts cannot Interfere This Title is set forth In III an opinion of or orthe r the supreme court written b by Justice J E Prick Frick and ard concurred in by tho tim chief ehler Justice insure and Justice W v M Mc McCarty McCarty Ic Carty handed down yesterday The opinion reverses the tile Judgment jud of oC the Fourth district court and re remands rf remands mands for new trial the cas ca case e of John JohnW Johnv W Yo v White Francis White George White and Frank Rouse appellants Rp against t Nathan E B Snell Sn William Finch David Dal Morgan and William P Okel berry berr administrator of P The appellants on Aug 1 1901 owned shares in the Goshen Goshon Mill Elevator company which had a cap capital capItal ital of or 1 00 in shares of each They agreed to place the control of the stock In the hands of the respondents by b a contract contra t to run until January Januar 1907 the consideration being payment of 25 5 a month and payment of all as assessments assessments against the stock It was f agreed that when the respondents respondent took control they the were not to vote ote the stock for levying assessments assessment or Incurring In Indebtedness Indebtedness indebtedness They did however create an Indebtedness of or and the creditor obtained fl a judgment against the company for that amount The pro proportion proportion proportion portion of this which the appellants were compelled to pay pa was In their answer the respondents claimed that the th indebtedness was prop properly erly erb incurred in the management of the business of or the company com pan and the ap appellants appellant repudiated rep the contract as against public policy polley and void voidA At A t the trial objection was made madl to introduction of evidence under the complaint on the ground that the con contract contract tract upon which the allegations were based was void and Judge J E K Booth sustained the objection and entered Judgment on the grounds stated though Justice Frick states that while the con contract tract was unusual and almost almo t unique I yet it was valid and enforceable |