Palmer v. Scheftel
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, Archibald Palmer, as trustee, from a judgment of the Supreme Court in. favor of the defendant, entered in the office of the clerk of the county of New York on the 27th day of November, 1917, upon a dis-. - missal of the complaint by direction of the court at the close of plaintiff’s case.
1Opinion of the Court
Sheabn, J.:
The case of this bankrupt corporation presents in aggravated form the evil of permitting capital stock to be issued for “ services.” Notwithstanding the fact that the statute authorizes capital stock to be issued in consideration of labor actually performed for the benefit of the corporation, and despite the seeming liberality recently manifested in interpreting the statute (Morgan v. Bon Bon Co., 222 N. Y. 22), this record exhibits such a palpable attempt to evade the statute as to merit condemnation if the facts can be fairly distinguished from those in the case referred to.
The…
2Cases cited5 opinions
- Butts v. . WoodNew York Court of Appeals · 1867
- Morgan v. . Bon Bon Co.New York Court of Appeals · 1917
- Carr v. . KimballNew York Court of Appeals · 1915
- Miller v. Crown Perfumery Co.Appellate Division of the Supreme Court of the State of New York · 1908
- Miller v. Crown Perfumery Co.New York Supreme Court · 1908
3Cited by8 opinions
- Kimmel Sales Corp. v. LausterNew York Supreme Court · 1938
- Palmer v. ScheftelAppellate Division of the Supreme Court of the State of New York · 1921
- Schaller v. MooreAppellate Division of the Supreme Court of the State of New York · 1938
- Brown v. WatsonAppellate Division of the Supreme Court of the State of New York · 1955
- Fox v. Arctic Placer Mining & Milling Co.Appellate Division of the Supreme Court of the State of New York · 1919
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