Legal Opinion
New England Box Co. v. Gilbert
Supreme Court of New Hampshire
Decided July 6, 1956No. 4485PublishedCited by 8 opinions
1Opinion of the CourtKenison, C. J.
An officer or director of a corporation is not personally liable for a conversion committed by the corporation or one of its officers merely by virtue of the office or directorship which he holds in the corporation. Refrigeration Discount Corp. v. Catino, 330 Mass. 230. An officer or director is personally liable for a conversion committed by the corporation only if he participates in the conversion or has knowledge amounting to acquiescence or commits a breach of duty which he owes to the owner of the property. 3 Fletcher, Cyc. Corporations, ss. 1137, 1140; anno. 152 A. L. It. 696; Stambaugh…
2Cases cited3 opinions
- Refrigeration Discount Corp. v. CatinoMassachusetts Supreme Judicial Court · 1953
- Cohen v. MausSupreme Court of Pennsylvania · 1929
- Stambaugh v. HaffaSupreme Court of Iowa · 1934
3Cited by8 opinions
- Vuitch v. FurrDistrict of Columbia Court of Appeals · 1984
- Taylor v. AlstonNew Mexico Court of Appeals · 1968
- Capen Wholesale, Inc. v. ProbstCourt of Appeals of Wisconsin · 1993
- General Motors Acceptance Corp. v. Bartlett (In Re Bartlett)United States Bankruptcy Court, D. New Hampshire · 1993
- Nelson v. CothamCourt of Appeals of Arkansas · 1980
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