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Parties - Whether Action For Money Judgment By Holder Of Unsecured Bonds Constitutes "Class" Suit Binding On All Owners Of That Series Who Did Not Appear, William Houston
Parties - Whether Action For Money Judgment By Holder Of Unsecured Bonds Constitutes "Class" Suit Binding On All Owners Of That Series Who Did Not Appear, William Houston
Michigan Law Review
The Chicago Board of Education had issued a certain series of refunding bonds, and later defaulted on interest coupons, numbered 16, attached to the bonds. Prior to the present suit a suit in equity had been instituted against the board by some of the owners of these bonds, on behalf of themselves and all other owners of bonds in this series, in which they prayed for judgment for the amount of interest due to each owner, together with costs, and attorney's fees. Defendant made a motion, to dismiss that suit on the ground that such action could not be maintained …