Bloom v. National United Benefit Savings & Loan Co.
New York Court of Appeals
Appeal from an order of the General Term of the Supreme Court in the fifth judicial department, entered December 4, 1894, which reversed a judgment in favor of plaintiffs entered upon the report of a referee and granted a new trial. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal from an order of the General Term of the Supreme Court in the fifth judicial department, entered December 4, 1894, which reversed a judgment in favor of plaintiffs entered upon the report of a referee and granted a new trial. The nature of the action and the facts, so far as material, are stated in the opinion. The directors represented, when they assumed office, that they possessed ordinary knowledge and skill, and that they would use ordinary care and prudence" in the matters committed to them. (Hun v. Cary, 82 N. Y. 65; Brinckerhoff v. Bostwick, 88 N. Y. 52; 99 N. Y. 185; 105 N. Y.…
1Opinion of the CourtO’Brien, J.
We think that the judgment in this case was properly reversed by the court below.
Without dealing with all the questions so fully covered by the' opinion in the Supreme Court, it will be sufficient to refer to one or two features of the action, after stating the theory of the plaintiff’s case, and the nature of the claims that were sanctioned by the judgment of the trial court.
The plaintiff, as a shareholder of the defendant company, brought the action in his own behalf, and in behalf and for the benefit of all other shareholders who might elect to join with him in the action, to recover the…
2Cases cited3 opinions
- Baird v. . Mayor, Etc., of City of N.Y.New York Court of Appeals · 1884
- Barnard v. . GantzNew York Court of Appeals · 1893
- Aldridge v. . AldridgeNew York Court of Appeals · 1890
3Cited by14 opinions
- Marchant v. Mead-Morrison Manufacturing Co.New York Court of Appeals · 1929
- Hanna v. . LyonNew York Court of Appeals · 1904
- Walsh v. GouldenMichigan Supreme Court · 1902
- Hunt v. AufderheideSupreme Court of Pennsylvania · 1938
- Davenport v. PrenticeAppellate Division of the Supreme Court of the State of New York · 1908
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