Chew v. Ellingwood
Supreme Court of Missouri
Appeal from Buchanan Circuit Court. — Hon. Gr. D. Bubgess, Judge. (1) The court below should have permitted appellants, Ellingwood and Bailey, to file the amended answer.
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Appeal from Buchanan Circuit Court. — Hon. Gr. D. Bubgess, Judge. (1) The court below should have permitted appellants, Ellingwood and Bailey, to file the amended answer. R. S., 1879, sec. 3567, p. 610 ; Wellman r>. Dismukes, 42 Mo. 101. (2) The board of directors, without a vote of •stockholders authorizing it, had no power to transfer the ■entire assets of the bank, including the unpaid capital stock, thereby putting it out of the power of the corporation to carry on the business or accomplish the purpose :for which it was created. Rollins r. Clay, 33 Me. 139; Abbott v. American Hard Rubber…
1Opinion of the CourtNorton, J.
— This suit is founded on the following bond: “Know all men by these' presents that we, *266Samuel J. Riley, as principal, and J. W. Bailey, J. L„ Ell ing wood and M. D. Morgan, as securities, are held! and firmly bound unto the Buchanan Life and General Insurance Company, in the sum of five thousand dollars, for the payment of which, well and truly to be made and done, we bind ourselves, our heirs, executors, administrators, jointly and severally, firmly by these presents, sealed with our seals, and dated this second day of July, 1867. The condition of the above bond is such that whereas the…
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