New Haven Trust Co., Receiver v. Doherty
Supreme Court of Connecticut
Action by the receiver of an insolvent life insurance company to recover the amount of a loss claimed to have been sustained by it on account of the negligence of the defendants in making a loan of its funds in violation of law, brought to the Superior Court in New Haven County and tried to the court, Rorabach, J. ; facts found and judgment rendered for the defendants, and appeal by the plaintiff for alleged errors in the rulings of the court.
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Action by the receiver of an insolvent life insurance company to recover the amount of a loss claimed to have been sustained by it on account of the negligence of the defendants in making a loan of its funds in violation of law, brought to the Superior Court in New Haven County and tried to the court, Rorabach, J. ; facts found and judgment rendered for the defendants, and appeal by the plaintiff for alleged errors in the rulings of the court. The case is sufficiently stated in the opinion.
1Opinion of the CourtBaldwin, J.
The defendants, as members of the board of directors of the Connecticut Life Insurance Company, voted, in 1895, for a loan of $10,000, for which the company received the borrower’s note at four months, with two indorsers, secured b}*- a mortgage on a steam propeller and the pledge of mortgage bonds of the Waterbury Land Improvement Company of the par value of $10,000. The loan was made after a thorough examination by the board as to the responsibility of the maker and indorsers and the value of the security. The maker was reported to them, by their attorney, to be a millionaire ; the…
2Cases cited2 opinions
- Hartford & New-Haven Rail Road v. KennedySupreme Court of Connecticut · 1838
- Sanford v. PeckSupreme Court of Connecticut · 1893
3Cited by6 opinions
- Sibley v. Town of MiddlefieldSupreme Court of Connecticut · 1956
- National Folding Box Co. v. City of New HavenSupreme Court of Connecticut · 1959
- Thaw v. Town of FairfieldSupreme Court of Connecticut · 1945
- Connecticut Savings Bank v. City of New HavenSupreme Court of Connecticut · 1945
- New Haven Trust Co., Rec. v. DohertySupreme Court of Connecticut · 1903
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