John William Building Corp. v. Union Trust Co.

Judgment affirmed, with costs. Memorandum: While plaintiff’s proofs established that it was not indebted to defendant and that its corporate funds were used to pay the personal obligation of its president to defendant, of which fact the defendant had knowledge, it further appears that plaintiff had no creditors and such payment was consented to by all of its officers, directors and stockholders. Under such circumstances, there was no issue that should have been submitted to the jury and the verdict in defendant’s favor was properly directed. (Reif v. Equitable Life Assurance Society, 268 N.…