Reid v. Perrow
Supreme Court of Virginia
Appeal from a decree of the Circuit Court of Campbell county. Decree for complainants. Defendants appeal. This is a suit in chancery instituted by the appellees, J. S. Perrow, vice-president and one of the principal stockholders of the Steel Castings Corporation, C. Mason Perrow, a director and stockholder of such corporation, and named as trustee in the deed of assignment mentioned below, which was directed to be, but was never in fact, executed, as is set forth below; and…
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Appeal from a decree of the Circuit Court of Campbell county. Decree for complainants. Defendants appeal. This is a suit in chancery instituted by the appellees, J. S. Perrow, vice-president and one of the principal stockholders of the Steel Castings Corporation, C. Mason Perrow, a director and stockholder of such corporation, and named as trustee in the deed of assignment mentioned below, which was directed to be, but was never in fact, executed, as is set forth below; and Cecil, Barreto and Cecil, Inc., a creditor of such corporation (who will be hereinafter called plaintiffs), against E.…
1Opinion of the Court
Sims, J.,
after making the foregoing statement, delivered the following opinion of the court:
The question presented by the assignments of error on which the decision of the case depends is the following:
[1] 1. Did the appellants, Martin and Reid, acting as members of, or as authorized by the creditors’ committee, even if they acted in good faith with respect to the belief that they have the right so to do, have the authority from the corporation to make the application of the sums of money, refunded by them, respectively, under the ruling of the State Corporation Commission, to the two debts…
2Cases cited3 opinions
- Gibney v. AllenMichigan Supreme Court · 1909
- Pennington v. SealMississippi Supreme Court · 1873
- Pannill's Adm'r v. Calloway's CommitteeSupreme Court of Virginia · 1884
3Cited by3 opinions
- Certain-Teed Products Corporation v. WallingerCourt of Appeals for the Fourth Circuit · 1937
- Darden v. George G. Lee CompanySupreme Court of Virginia · 1963
- Wyoming Coal Sales Co. v. Smith-Pocahontas Coal Co.West Virginia Supreme Court · 1928