Morrison v. Gold Mountain Gold Mining Co.
California Supreme Court
Appeal from the District Court, Third Judicial District, City and County of San Francisco. Action to recover damages for the alleged conversion by the defendant of two thousand five hundred shares of its stock. In November, 1873, E. J. Baldwin acquired, by purchase from the locators, a gold-bearing ledge in San Bernardino County.
Read the full summary
Appeal from the District Court, Third Judicial District, City and County of San Francisco. Action to recover damages for the alleged conversion by the defendant of two thousand five hundred shares of its stock. In November, 1873, E. J. Baldwin acquired, by purchase from the locators, a gold-bearing ledge in San Bernardino County. He and other parties afterward formed the corporation, the defendant here, for the purpose of working the ledge, with a capital stock of sixty thousand shares. While engaged in forming the corporation, but before it was formed, the parties in interest agreed among…
1Opinion of the Court
The corporation had no power to transfer the stock named in the order; nor had Baldwin, as. President, or otherwise, power to bind the company by any such order, or to impose upon the corporation the necessity of keeping his private accounts, as required by the order. The plaintiff has misconceived his action. Baldwin, if -any one, is liable to him. (Taft. v. Brewster, 9 Johns. 333; to the same effect, Stone v. Wood, 7 Cowen, 452 ; Hills v. Bannister, 8 Cowen, 32; White v. Skinner, 13 Johns. 307.) The President of a corporation is not ex officio the agent ■of the corporation to sell property;…
2Cases cited2 opinions
- White v. SkinnerNew York Supreme Court · 1816
- Dederick v. LemanNew York Supreme Court · 1812
3Cited by7 opinions
- Weatherford, Mineral Wells & Northwestern Railway Co. v. GrangerTexas Supreme Court · 1894
- Moore & Handley Hardware Co. v. Towers Hardware Co.Supreme Court of Alabama · 1888
- Stone v. WalkerSupreme Court of Alabama · 1917
- Kirkup v. Anaconda Amusement Co.Montana Supreme Court · 1921
- Baxter v. Boston-Pacific Oil Co.California Court of Appeal · 1927
2 more not listed; retrieve them via the Exa API.