Munday v. Wisconsin Trust Co, 288
Decision Date | 19 April 1920 |
Docket Number | No. 288,288 |
Citation | 40 S.Ct. 365,252 U.S. 499,64 L.Ed. 684 |
Parties | MUNDAY et al. v. WISCONSIN TRUST CO. et al |
Court | U.S. Supreme Court |
Messrs. Walker Bachrach and Hamilton Moses, both of Chicago, Ill., for plaintiffs in error.
[Argument of Counsel from 499-500 intentionally omitted] Messrs. William E. Black, of Milwaukee, Wis., and John B. Simmons, of Racine, Wis., for defendants in error.
The court below declared null and void two separate deeds whereby defendants in error undertook to convey to the Realty Realization Company, a Maine corporation, certain land in Wisconsin upon the ground that the grantee had failed to comply with the statute of the state prescribing conditions under which foreign corporations might acquire title to property therein. The deeds were dated and delivered in Illinois February 28, 1913. A subsequent deed from the Realty Company and a mortgage by its grantee were also declared ineffective, but they need not be separately considered here. Wisconsin Trust Co. v. Munday, 168 Wis. 31, 168 N. W. 393, 169 N. W. 612.
At the time of the transactions in question the applicable statutory provisions concerning foreign corporations were subsections 2 and 10 of section 1770b, Wisconsin Statutes 1911, which follow:
* * *
The original proceeding was instituted March 30, 1913. While it was pending in the circuit court the Realty Company complied with section 1770b and obtained a license to do business and hold property in Wisconsin—October, 1915.O n May 11, 1917, the Legislature enacted Chapter 211, Laws of 1917, which amended subsection 1 of section 1770j of the statute to read:
'Any corporation organized otherwise than under the laws of this state, having acquired, or attempted to acquire, legal title by deed, or lease to any real property in this state, before complying with the terms of section 1770b of the statutes, and which is now not required to comply with said section or which has thereafter, and before the passage of this section, complied with said section, shall be and is hereby relieved from any disability provided in said statute or prohibition therein contained, so far as said section relates to the acquisition and holding of the property so acquired, or attempted to be acquired, and the title so acquired, or attempted to be acquired, is hereby confirmed.'
Plaintiffs in error unsuccessfully challenged the validity of section 1770b upon the ground of conflict with the contract clause, section 10, article 1, of the federal Constitution and the due process clause of the Fourteenth Amendment. They further insisted that if ...
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