Chemical National Bank v. Colwell
New York Court of Appeals
Appeal from judgment of the General Term of the Court of . Common Pleas for the city and county of New York, entered upon an order made February 10,1890, which affirmed a judgment in favor of plaintiff entered upon a verdict directed by the court. This action was brought against defendants as directors of the New York Lumber Auction Company (Limited) to recover an indebtedness of the company because of failure on their part to tile an annual report.
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Appeal from judgment of the General Term of the Court of . Common Pleas for the city and county of New York, entered upon an order made February 10,1890, which affirmed a judgment in favor of plaintiff entered upon a verdict directed by the court. This action was brought against defendants as directors of the New York Lumber Auction Company (Limited) to recover an indebtedness of the company because of failure on their part to tile an annual report. The -material facts are stated in the opinion. The plaintiff failed to show that the note in suit was the note of the New York Lumber Auction…
1DissentBradley, J.
I do not see my way to concurrence in reversal of the judgment.
The purpose of the defendant to resign his position of director of the N. Y. Lumber Auction Co. (Limited), was not brought to the attention of the board of directors. And his statement made to that effect to Jones, who was the secretary-treasurer of the company, does not seem effectual to accomplish it.
The statute under which the company was incorporated provides that the members of the board of directors at their election, and throughout their term of office, shall be stockholders in such corporation to at least five shares and…
2Cases cited2 opinions
- Rosevelt v. . BrownNew York Court of Appeals · 1854
- Worrall v. JudsonNew York Supreme Court · 1849