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SOWERS v. HOME-MADE CHAIR CO.

No. 384.

78 S.E.2d 342 (1953)

238 N.C. 576

SOWERS v. HOME-MADE CHAIR CO., Inc. et al.

Supreme Court of North Carolina.

November 11, 1953.

Attorney(s) appearing for the Case

Burke & Burke, Taylorsville, W. I. Ward, Jr., and Isaac T. Avery, Jr., Statesville, for appellant.

Helms & Mulliss, Charlotte, Buren Jurney, R. A. Collier, Statesville, for appellee.

DENNY, Justice.

The allegations retained in the Second Further Answer and Defense simply set out the provisions of the by-laws of the corporation with respect to the payment of dividends and the retention of surplus for certain corporate purposes. While the Third Further Answer and Defense is, more or less, in the nature of a statement of the present condition of the corporation, its past growth and its immediate needs,...

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