Drucklieb v. Harris
New York Supreme Court
Action by a stockholder of a corporation to impress a trust upon property in the hands of its president.
1Opinion of the CourtCardozo, J.
This action is brought by a stockholder in the right of the corporation to impress a trust upon property in the hands of its president. Sam H. Harris, Incorporated, made an assignment for the benefit of creditors on February 5, 1913. On the next day, there was a petition in bankruptcy; and the business was continued through the appointment of a receiver. On March 14, 1913, Sam H. Harris, the president of the company and its chief stockholder, bought all its property from the receiver, in consideration of his payment of the debts, twenty per cent in cash, and eighty per cent in notes running…
2Cases cited11 opinions
- Farmers' Loan & Trust Co. v. New York & Northern Railway Co.New York Court of Appeals · 1896
- Bosworth v. . AllenNew York Court of Appeals · 1901
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
- Darcy v. Brooklyn & New York Ferry Co.New York Court of Appeals · 1909
- Hoyle v. Plattsburgh & Montreal RailroadNew York Court of Appeals · 1873
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3Cited by2 opinions
- Pollitz v. Wabash RailroadAppellate Division of the Supreme Court of the State of New York · 1915
- Fergus Falls Woolen Mills Co. v. BoyumSupreme Court of Minnesota · 1917