Baker v. President of the Atlas Bank
Massachusetts Supreme Judicial Court
This was a bill in equity, brought not only in behalf of the plaintiffs, but also in behalf of all other creditors of the Nahant Bank, and Avas filed on the 15th of April 1843. The bill, after alleging the incorporation of said bank, by St. 1833, c. 144, the organization of the corporation, its transaction of business, and the repeal of its charter by St. 1837, c. 214, contained the following statements: That by a decree of this court, passed on the 15th of April 1838, in a…
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This was a bill in equity, brought not only in behalf of the plaintiffs, but also in behalf of all other creditors of the Nahant Bank, and Avas filed on the 15th of April 1843. The bill, after alleging the incorporation of said bank, by St. 1833, c. 144, the organization of the corporation, its transaction of business, and the repeal of its charter by St. 1837, c. 214, contained the following statements: That by a decree of this court, passed on the 15th of April 1838, in a suit wherein the Atlas Bank was complainant and the said Nahant Bank was respondent, three persons (who were made…
1Opinion of the Court
Wilde, J.*
This is a case of great importance to the parties and to the public, as the principles upon which it is to be decided, relating to the duties and liabilities of our banking corporations and corporators, must be interesting to a great portion of the community. The parties also are very numerous, and whatever may be the decision of the case, many persons, without any fault on their part, must be subjected to losses. We have, therefore, considered the case with great deliberation, and I will now, as briefly as may be, state the opinion of the court, and the principles upon which it is…
2Cases cited2 opinions
- Wood v. DummerU.S. Circuit Court for the District of Maine · 1824
- Bullard v. BellU.S. Circuit Court for the District of New Hampshire · 1817
3Cited by4 opinions
- Hodgin v. Peoples' National BankSupreme Court of North Carolina · 1899
- Continental Trust Co. v. SpencerSupreme Court of North Carolina · 1927
- Lumberton v. . Hood, CommissionerSupreme Court of North Carolina · 1933
- Hodgin v. Peoples' National BankSupreme Court of North Carolina · 1899