Stone v. Rottman
Supreme Court of Missouri
Appeal from St. Louis, City Circuit Court. — Ro». W. B. Douglas, Judge. (1) Bank directors serve without remuneration. They are liable only.as mandataries. They are only responsible to their bank for fraud or such gross negligence as amounts to fraud. Briggs v. Spaulding, 141 U. S. 132; Spering’s Appeal, 71 Pa. 11; Pusz v. Spaun-horst, 67 Mo. 256; Swentzel v. Bank, 147 Pa.
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Appeal from St. Louis, City Circuit Court. — Ro». W. B. Douglas, Judge. (1) Bank directors serve without remuneration. They are liable only.as mandataries. They are only responsible to their bank for fraud or such gross negligence as amounts to fraud. Briggs v. Spaulding, 141 U. S. 132; Spering’s Appeal, 71 Pa. 11; Pusz v. Spaun-horst, 67 Mo. 256; Swentzel v. Bank, 147 Pa. St. 140; Movius v. Lee, 30 Fed. 307; Wheeler v. Bank, 75 Fed. 784; Wallace v. Bank, 15 S. W. 455; Coddington v. Can-aday, 157 Ind. 243; Killen v. Barnes, 106 Wis. 574. (2) The Mullanphy Savings Bank had the right to take…
1Opinion of the CourtPox, J.
The judgment in this cause is predicated upon the first count in the petition. It sets ont “the appointment and qualification of the plaintiff as receiver. In it the plaintiff charges, that the defendants were negligent in the performance of their duties to the bank; that they neglected to observe the by-laws; that they failed at their meetings to faithfully and diligently enquire into the affairs of thé bank and to ascertain the condition of the accounts and property of the bank; that the discount committees grossly neglected their duty, in that they approved of improvident and worthless…
2Cases cited14 opinions
- Briggs v. SpauldingSupreme Court of the United States · 1891
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1882
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1885
- Wallace v. Lincoln Savings BankTennessee Supreme Court · 1891
- Hun v. . CaryNew York Court of Appeals · 1880
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3Cited by13 opinions
- Lippitt v. AshleySupreme Court of Connecticut · 1915
- Greenfield Savings Bank v. AbercrombieMassachusetts Supreme Judicial Court · 1912
- Selheimer v. Manganese Corp. of AmericaSupreme Court of Pennsylvania · 1966
- Lyons v. CorderSupreme Court of Missouri · 1913
- Woodward v. StewartSupreme Court of Georgia · 1919
8 more not listed; retrieve them via the Exa API.