Bracken v. Nicol
Court of Appeals of Kentucky
CASE 82. — ACTION BY R. P. BRACKEN AND OTHERS AGAINST W. E. NICOL TO REQUIRE HIM TO PAY THE PAR VALUE OF CERTAIN BANK STOCK ISSUED TO HIM. Appeal from Simpson- Circuit Court. W. P. Sandidge, Circuit Judge. Judgment for defendant. Plaintiffs appeal. POINTS AND AUTHORITIES. 1. A director whose duty it is to see that the bank complies with the law and keeps -a stock book is estopped from pleading the bank had no such book. (Beals v. Buffalo Ex. Metal Co., 49 N. Y. App.
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CASE 82. — ACTION BY R. P. BRACKEN AND OTHERS AGAINST W. E. NICOL TO REQUIRE HIM TO PAY THE PAR VALUE OF CERTAIN BANK STOCK ISSUED TO HIM. Appeal from Simpson- Circuit Court. W. P. Sandidge, Circuit Judge. Judgment for defendant. Plaintiffs appeal. POINTS AND AUTHORITIES. 1. A director whose duty it is to see that the bank complies with the law and keeps -a stock book is estopped from pleading the bank had no such book. (Beals v. Buffalo Ex. Metal Co., 49 N. Y. App. Diy., 589; Cook on Corp., note on p. 561.) Where the stock itself or any statute provides for a transfer on the books of the…
1Opinion of the Court
Opinion op the Court by
John lb Carroll, Commissioner
Affirming.
There is no issue of fact involved in this controversy.
The appellee, Nicol, became the owner of 10 shares of stock of the par value of $100 each in the J. A. McGoodwin Banking Company, on the date of its organization in June, .1893, and retained possession of the stock until February 15, 1899, when he sold.it to J. K. Caldwell, then president of the institution, *630for $1,000 in cash. At the time of the sale, and for some years prior thereto, appellee had been a director in the bank, bnt ceased to be an officer upon the sale of his…
2Cases cited5 opinions
- Whitney v. ButlerSupreme Court of the United States · 1886
- Foster v. RowMichigan Supreme Court · 1899
- Chemical National Bank v. ColwellNew York Court of Appeals · 1892
- Cox v. ElmendorfTennessee Supreme Court · 1896
- Hunt v. SeegerSupreme Court of Minnesota · 1904
3Cited by10 opinions
- Alsop v. ConwayCourt of Appeals for the Sixth Circuit · 1911
- State v. WareSupreme Court of Oklahoma · 1921
- Swaim v. MartinCourt of Appeals of Kentucky (pre-1976) · 1946
- McDowell v. RamboCourt of Appeals of Tennessee · 1937
- Stewart v. CollinsWyoming Supreme Court · 1927
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