Clapp v. Astor
New York Court of Chancery
The bill in this cause, so far as it is now to be considered, went for an account of the profits or dividends on the shares of capital stock of the American Fur Company.
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The bill in this cause, so far as it is now to be considered, went for an account of the profits or dividends on the shares of capital stock of the American Fur Company. It alleged that in the Month of May one thousand eight hundred and y ° twenty-three a verbal agreement was made between the complainant, Benjamin Clapp, and the defendant, John Jacob Astor, by which the complainant was to enter into the service and to take charge of the business of the defendant—" who was the president of the American Fur Company and then about to leave the city of New-York for Europe—at a salary of two…
1Opinion of the Court
The Vice-Chancellor:
The principal difference between the parties is, in regard to the complainant’s being retained in the service of the defendant or of the American Fur Company ; and also, as to the duration of service. But, whatever may have been the true .agreement in this respect, it appears to me that the result, upon the lavt7 of the case, must be the same.
The weight of evidence is in favor of the defendant’s statement of the agreement, namely, that the complainant entered into the service of the company, and was to be allowed the profits or dividends only while he continued in such…
2Cited by7 opinions
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- Held v. KellerSupreme Court of Minnesota · 1916
- Horst v. KittredgeAppellate Division of the Supreme Court of the State of New York · 1930
- Smith v. LansingNew York Supreme Court · 1898
- In re EddyNew York Supreme Court · 1881
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