Legal Opinion
Stevens v. Acadia Dairies, Inc.
Court of Chancery of Delaware
Decided January 7, 1927PublishedCited by 7 opinions
1Opinion of the Court
The Chancellor.
The exceptants object to the claims as valid ones.
The first ground upon which the general validity of the claims is attacked is that the directors’ meeting which authorized the bonds secured by a mortgage was an invalid one in that only one director was present in person, the other two being represented by proxy. All action taken at that meeting, it is contended was void. This is true, because directors of a corporation cannot act by proxy. Lippman v. Kehoe Stenograph Co., 11 Del. Ch. 80, 95 A. 895.
But this does not end the matter. What happened was that two meetings of the…
2Cases cited4 opinions
- Lippman v. Kehoe Stenograph Co.Court of Chancery of Delaware · 1915
- Commissioners of Lewes v. Breakwater Fisheries Co.Court of Chancery of Delaware · 1922
- In re New York & Baltimore Inland Transp. Co.District Court, D. Delaware · 1921
- First Nat. Bank v. CrissingerCourt of Appeals for the Fourth Circuit · 1922
3Cited by7 opinions
- Spering v. SullivanDistrict Court, D. Delaware · 1973
- Stringer v. Electronics Supply Corp.Court of Chancery of Delaware · 1938
- Ago, Florida Attorney General Reports1978
- Applied Energetics, Inc. v. FarleyCourt of Chancery of Delaware · 2020
- Kleinberg v. AharonCourt of Chancery of Delaware · 2017
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