Reed v. Benzine-ated Soap Co.
Supreme Court of New Jersey
On appeal from a decree advised by Vice-Chancellor Walker, who filed the following memorandum: The original bill was filed .to restrain the dissolution of the corporate defendant pending an opportunity for the complainant, who was a stockholder, to inspect the books.
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On appeal from a decree advised by Vice-Chancellor Walker, who filed the following memorandum: The original bill was filed .to restrain the dissolution of the corporate defendant pending an opportunity for the complainant, who was a stockholder, to inspect the books. The defendants Smith and Lowry filed an answer and cross-bill. -A motion was made to strike out the cross-bill on the ground that the relief it sought was not relevant, pertinent or germane to the matters in issue raised by the bill of complaint. The motion was overruled and the application denied. A decree pro confesso ■ was…
1Opinion of the Court
The opinion of the court 'was delivered by
Parker, J.
We conclude that the decree below should be affirmed, and have little to add to the views expressed as above by the present chancellor. When the complainant as a stockholder prayed an. injunction to restrain the dissolution .proceedings, his claim as a stockholder was met by a cross-bill alleging that defendants Smith and Lowry were induced to go into the corporate venture by fraudulent statements of complainant; that after the incorporation he falsified the expense accounts and employed incompetent and extravagant salesmen so as to…
2Cited by5 opinions
- Lizak v. RottenbucherNew Jersey Court of Chancery · 1947
- Levine v. Lafayette Building Corp.New Jersey Court of Chancery · 1928
- Panco v. RogersNew Jersey Superior Court Appellate Division · 1952
- Luff v. NevinsNew Jersey Court of Chancery · 1930
- McKirgan v. CurtisNew Jersey Court of Chancery · 1929