Fletcher v. Eagle
Supreme Court of Arkansas
Appeal 'from Lonoke Circuit Court. STATEMENT' BY THE COURT. This was an action brought, by order of court, by creditors in the name of the receiver of the Bank of Lonoke, against directors of that bank,, charging that they had become liable, under section 863, Kirby’s Digest, for intentionally .neglecting and refusing to comply with their duties as directors. The complaint sets forth with particularity the alleged neglectful conduct of the directors.
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Appeal 'from Lonoke Circuit Court. STATEMENT' BY THE COURT. This was an action brought, by order of court, by creditors in the name of the receiver of the Bank of Lonoke, against directors of that bank,, charging that they had become liable, under section 863, Kirby’s Digest, for intentionally .neglecting and refusing to comply with their duties as directors. The complaint sets forth with particularity the alleged neglectful conduct of the directors. Issue was taken on all material matters, and the case went to the jury, who found in favor of the directors. Much evidence was adduced not…
1Opinion of the Court
Hill, C. J.,
(after stating the facts.) The bank had been wrecked by C. W. England, whose ventures went down in the financial disasters of 1893. Prior to the failure of the bank, the evidence shows he was a man of the highest standing in every way, and regarded as a very capable business man. Whether the failure was due to dishonesty or unwise investment and speculation, naturally there are two opinions, and these variant phases are represented in the two instructions quoted. The vice running through each is that any circumstances justify directors in abdicating their official functions.'
The…
2Cited by21 opinions
- St. Louis, Iron Mountain & Southern Railway Co. v. RogersSupreme Court of Arkansas · 1910
- Atherton v. AndersonCourt of Appeals for the Sixth Circuit · 1938
- St. Louis, Iron Mountain & Southern Railway Co. v. DawsonSupreme Court of Arkansas · 1906
- St. Louis, Iron Mountain & Southern Railway Co. v. HittSupreme Court of Arkansas · 1905
- Bayles v. DaughertySupreme Court of Arkansas · 1905
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