McMENOMY v. RYDEN

No. 39924.

148 N.W.2d 804 (1967)

Edward B. McMENOMY et al., Respondents, v. Arnold J. RYDEN, Jr., et al., Defendants, Arnold J. Ryden, Jr., et al., Appellants.

Supreme Court of Minnesota.

February 17, 1967.


Attorney(s) appearing for the Case

Dorsey, Owen, Marquart, Windhorst & West, Henry Halladay and Curtis D. Forslund, Minneapolis, for appellants.

McMenomy, Hertogs & Fluegel, Hastings, Fred Burstein, Minneapolis, for respondents.


OPINION

KNUTSON, Chief Justice.

This is an appeal from an order denying a motion for summary judgment wherein the questions involved were certified by the trial court as being important and doubtful.

Midwest Technical Development Corporation (hereinafter referred to as Midwest) was incorporated under Minnesota law in 1958 as a closed-end, nondiversified investment company. The purpose of its existence is to invest funds of its stockholders in securities...

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