Smyly v. Smith

Quillian, Justice.

This is a minority stockholder’s suit, brought against the individual directors of a corporation, without making the corporation either a party plaintiff or a party defendant, seeking to enjoin the directors from making certain changes in the machinery used in the corporation’s cotton mills, from making certain expenditures of corporate funds, and from borrowing money on behalf of the corporation to accomplish such purposes. The suit is in two counts, and the exception here is to the trial court’s sustaining general demurrers to both counts and dismissing the petition. Held:

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