James v. Woodruff
New York Court of Chancery
This was an appeal by the defendants from a decree of the assistant vice chancellor of the first circuit. On the 15th of May, 1837, the legislature passed an act to repeal the charter of the Lockport Bank; which act took effect on the 4th of June in that year.
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This was an appeal by the defendants from a decree of the assistant vice chancellor of the first circuit. On the 15th of May, 1837, the legislature passed an act to repeal the charter of the Lockport Bank; which act took effect on the 4th of June in that year. The repealing act made the directors then in office the trustees of the creditors and stockholders of the company, until others should be appointed in their places by the bank commissioners, to settle the affairs of the bank, collect and pay its outstanding debts, and to divide its property and effects among its stockholders, after…
1Opinion of the Court
The Chancellor.
The facts of this case, so far as they can be ascertained from the pleadings and proofs, are as follows : At the time of the repeal of the charter of the Lockport Bank, which repeal took effect on the 4th of June, 1837, C. F. Mitchell owed that institution three *544notes, of $1830 each, dated the 18th of May, 1837, payable in six, nine and twelve months from date ■ which notes were given for a balance due for moneys previously loaned by the bank to the firm of Mitchell & Lukins, of which firm C. F. Mitchell was one of the copartners. The stock in question was sold and transferred…
2Cited by8 opinions
- Matter of FultonNew York Court of Appeals · 1931
- Merrill v. Cape Ann Granite Co.Massachusetts Supreme Judicial Court · 1894
- Bijur v. Standard Distilling & Distributing Co.New Jersey Court of Chancery · 1908
- Central Savings Bank v. SmithSupreme Court of Colorado · 1908
- Owen v. SmithNew York Supreme Court · 1860
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