Exter v. Sawyer
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. — Hon. P. R. Elitoraft, Judge. (1) Appellant was under no obligation to disclose the nature or extent of his interest to the company or to its stockholders, as he occupied no fiduciary relation to them, and was not accountable to them for his profits, not having done or said anything to create any such right on their part.
Read the full summary
Appeal from St. Louis City Circuit Court. — Hon. P. R. Elitoraft, Judge. (1) Appellant was under no obligation to disclose the nature or extent of his interest to the company or to its stockholders, as he occupied no fiduciary relation to them, and was not accountable to them for his profits, not having done or said anything to create any such right on their part. Ladywell Mining Co. v. Brooks, 35 Ch. D. 400; Erlanger v. Phosphate Co., 3 App. 1218; In re Ambrose 'Lake Tin Go., 14 Ch. D. 390; In re Cape Breton Go.,29 Ch.D. 795; Bensmore Oil Co. v. Densmore, 64 Penn. 43; Ely v. Hanford, 65 111.…
1Opinion of the CourtBurgess, J.
About the middle of March, 1890, the defendant, Charles H. Sawyer, having conceived the idea of forming a company for the purpose of buying a certain tract of land of about one hundred acres in *306St. Louis county, submitted the following instrument of writing and another to be hereafter mentioned to the plaintiff and the individual defendants, and the Farmer’s Co-operative club and induced them to become subscribers thereto for the amount set opposite their respective names.
“Whereas, C. H. Sawyer is about to form a company for the purpose of buying a certain tract of land of about one hundred…
2Cases cited3 opinions
- South Joplin Land Co. v. CaseSupreme Court of Missouri · 1891
- Quinlan v. KeiserSupreme Court of Missouri · 1877
- Euneau v. RiegerSupreme Court of Missouri · 1891
3Cited by7 opinions
- Old Dominion Copper Mining & Smelting Co. v. BigelowMassachusetts Supreme Judicial Court · 1909
- Rossi v. DavisSupreme Court of Missouri · 1939
- Brooker v. William H. Thompson Trust Co.Supreme Court of Missouri · 1914
- Hess v. D. T. Draffen & Co.Missouri Court of Appeals · 1903
- Luft v. StrobelSupreme Court of Missouri · 1929
2 more not listed; retrieve them via the Exa API.