Baker v. Seattle-Tacoma Power Co.
Washington Supreme Court
Cross-appeals from a judgment of the superior court for King county, Gilliam, J., entered February 9, 1910, upon findings in favor of the defendant, after a trial on the merits before the court without a jury, in an action by stockholders to vacate a sale of property to a corporation and for other equitable relief.
1DissentChadwick, J.
(dissenting) — I cannot agree with my associates in their disposition of this case. The rule being that trustees of a corporation act in a fiduciary capacity and are to be held to the strictest accountability, a wrong to the coi’porate body should not go uncorrected because of equities or estoppels ai’ising between individual stockholders. If plaintiff alone were concerned — that is, if the loss or gain were chargeable to him alone, it might be properly held that he was estopped to maintain this action. We may admit that appellant has by his conduct estopped himself, but in this class of…
2Cases cited2 opinions
- Wardell v. Railroad Co.Supreme Court of the United States · 1881
- Pepper v. AddicksU.S. Circuit Court for the District of Eastern Pennsylvania · 1907