Detroit Trust Co. v. Goodrich
Michigan Supreme Court
Appeal from Wayne; Hosmer, J. Bill by the Detroit Trust Company as receiver of E. Bement’s Sons, an insolvent corporation, against Louisa A. Goodrich and others for the recovery of dividends unlawfully paid out of capital to preferred stockholders of the insolvent. From an order overruling demurrers to complainant’s bill, defendants appeal.
1Opinion of the CourtBrooke, J.
(after stating the facts). The bill of complaint contains no averment of fraud on the part of the defendants, nor does it aver that the defendants or any of them received the dividends in question with knowledge or notice that, at the time of payment, the same were paid illegally. Under this pleading, there being no claim of a new promise on the part of the defendants, and more than six years having concededly elapsed between the time of the last payment and the date of commencement of suit, all the defendants urge that the statute of limitations should be held to be an absolute bar to the…
2Cases cited15 opinions
- Speidel v. HenriciSupreme Court of the United States · 1887
- Hornor v. HenningSupreme Court of the United States · 1876
- Hayden v. ThompsonCourt of Appeals for the Eighth Circuit · 1895
- Carrol v. GreenSupreme Court of the United States · 1876
- Railroad Co. v. DurantSupreme Court of the United States · 1877
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3Cited by15 opinions
- Madugula v. TaubMichigan Supreme Court · 2014
- Fildew v. StockardMichigan Supreme Court · 1932
- Mackall v. PocockSupreme Court of Minnesota · 1917
- Bartlett v. SmithCourt of Appeals of Maryland · 1932
- Kleinberg v. SchwartzNew Jersey Superior Court Appellate Division · 1965
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