Bell & Co. v. Vogt
Oregon Supreme Court
From "Wasco: William L. Bradshaw, Judge. Statement by Mr. Justice Benson. This .is a suit wherein an accounting is sought from the alleged trustee of an insolvent corporation.
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From "Wasco: William L. Bradshaw, Judge. Statement by Mr. Justice Benson. This .is a suit wherein an accounting is sought from the alleged trustee of an insolvent corporation. The substance of the complaint is that the defendant corporation, being insolvent, made a written assignment „ of all its assets to defendant Vogt for the benefit of all its creditors; that the latter - accepted the trust, collected large sums of money, but failed to disburse the same in accordance with the terms of the trust, and refuses to account for the same; that he has disbursed a portion of such money contrary to…
1Opinion of the CourtJustice Benson
1. The one question for our consideration arises upon the action of the trial court in denying the motion for a nonsuit. The plaintiff’s evidence discloses that on May 21, 1915, the president and secretary of the defendant corporation undertook to make an assignment of all of its assets for the benefit of all its creditors. This action, however, did not have the authority of the board of directors. Defendant Vogt did receive moneys collected by Alan Bancroft, secretary and manager of the corporation, to the amount of $790.60 of which Vogt applied $470.75 to the payment of the claims of…
2Cases cited2 opinions
- Luse v. Isthmus Transit Railway Co.Oregon Supreme Court · 1876
- Wilson v. Investment Co.Oregon Supreme Court · 1916
3Cited by1 opinion
- Ivy Ramsey v. Wellington Co.Oregon Supreme Court · 1925