Legal Opinion
Adams v. Smith
Supreme Court of Alabama
Decided May 9, 1963No. 1 Div. 897PublishedCited by 2 opinions
1Opinion of the Court
COLEMAN, Justice.
This is an appeal by respondents from a decree overruling demurrers to the bill of complaint which was. filed by a minority stockholder on behalf of a corporation. The appeal was taken prior to amendment of § 7SS, Title 7, Code 1940, by Act No. 72, 1961 Acts, page 1947.
The averments of the bill are to effect that the directors have adopted resolutions to pay certain sums of the moneys of the corporation to the widow of the president and to the widow of the comptroller of the corporation; that the payments constitute unauthorized gifts of property of the corporation, made…
2Cases cited20 opinions
- Rogers v. HillSupreme Court of the United States · 1933
- McQuillen v. National Cash Register Co.Court of Appeals for the Fourth Circuit · 1940
- HORNSBY v. LOHMEYERSupreme Court of Pennsylvania · 1950
- Preston & Stetson v. McMillanSupreme Court of Alabama · 1877
- Gladys W. Simpson v. United StatesCourt of Appeals for the Seventh Circuit · 1958
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3Cited by2 opinions
- Penn Mart Realty Company v. BeckerCourt of Chancery of Delaware · 1972
- Belcher v. Birmingham Trust National BankDistrict Court, N.D. Alabama · 1968