Grafner v. Pittsburg, Neville Island & Coraopolis Street Railway Co.
Supreme Court of Pennsylvania
Appeal, No. 5, Oct. T., 1903, by plaintiff, from decree of C. P. No. 1, Allegheny Co., June T., 1901, No. 447, dismissing bill in equity in case of Emanuel Grafner v." Pittsburg, Neville Island and Coraopolis Street Railway Company, J. D. Callery, President, and Joseph F. Guffey, Treasurer. Bill in equity to compel a corporation to transfer stock.' Before Collier, J. The opinion of the Supreme Court states the case. Error assigned was decree dismissing the bill.
1Opinion of the Court
Per Curiam,
The certificates of stock sued on in this case were issued by-directors of a corporation to themselves for services. There was no agreement by the corporation prior thereto to pay for such services, nor was there any by-law authorizing such payment. A contract or law of the corporation must precede payment for such services or there can be no recovery. Such is the law as laid down in the text books, and it has been uniformly followed by this court, the leading cases being Accommodation Loan, etc., Association v. Stonemetz, 29 Pa. 534, and, Kilpatrick v. Penrose Ferry Bridge Co., 49…
2Cases cited2 opinions
- Kilpatrick v. Penrose Ferry Bridge Co.Supreme Court of Pennsylvania · 1865
- Loan Ass'n v. StonemetzSupreme Court of Pennsylvania · 1858
3Cited by7 opinions
- Carville v. A. F. Bornot & Co.Supreme Court of Pennsylvania · 1926
- Selheimer v. Manganese Corp. of AmericaSupreme Court of Pennsylvania · 1966
- Bowen v. Imperial Theatres, Inc.Court of Chancery of Delaware · 1922
- Wilson v. BrownSupreme Court of Pennsylvania · 1920
- Bangor Silk Knitting Co. v. WiseSupreme Court of Pennsylvania · 1923
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