Bowditch v. Jackson Co.
Supreme Court of New Hampshire
Bill in Equity, to enjoin a .sale of the assets of 'the Jackson Company to the Nashua Manufacturing Company. The plaintiffs are stockholders of the Jackson Company and allege in their bill that, through control exercised by common directors, the defendants were about to execute a conspiracy to sell the assets of the Jackson Company to the Nashua Company, for an inadequate price, payable in Nashua Company stock; that in furtherance of this conspiracy, the officers had…
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Bill in Equity, to enjoin a .sale of the assets of 'the Jackson Company to the Nashua Manufacturing Company. The plaintiffs are stockholders of the Jackson Company and allege in their bill that, through control exercised by common directors, the defendants were about to execute a conspiracy to sell the assets of the Jackson Company to the Nashua Company, for an inadequate price, payable in Nashua Company stock; that in furtherance of this conspiracy, the officers had procured the assent of the holders of 460 of the 600 shares of Jackson Company stock to a trust agreement whereby they were…
1Opinion of the Court
1. The main question in this case is whether a going business corporation can be closed out and dissolved upon the motion of the majority of its stockholders and against the protest of the minority. The question is a new one in this state, although it has frequently been considered (both in cases where it was necessarily involved and those where it was not) by the courts in other states. The decisions and dicta are conflicting and are quite evenly divided. In the following cases the existence of the power is denied, though in most of them the question was not necessarily involved: Abbot v.…
2Cases cited15 opinions
- Gamble v. Queens County Water Co.New York Court of Appeals · 1890
- People v. . BallardNew York Court of Appeals · 1892
- Smith v. San Francisco & North Pacific Railway Co.California Supreme Court · 1897
- Abbot v. American Hard Rubber Co.New York Supreme Court · 1861
- Forrester v. Boston & Montana Consolidated Copper & Silver Mining Co.Montana Supreme Court · 1898
10 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Allied Chemical & Dye Corp. v. Steel & Tube Co. of AmericaCourt of Chancery of Delaware · 1923
- Leadbetter v. PriceOregon Supreme Court · 1921
- Miami Subs Corp. v. Murray Family Trust & Kenneth Dash PartnershipSupreme Court of New Hampshire · 1997
- Peter R. Previte, Inc. v. McAllister Florist, Inc.Supreme Court of New Hampshire · 1973
- Beidenkopf v. Des Moines Life InsuranceSupreme Court of Iowa · 1913
14 more not listed; retrieve them via the Exa API.