Trustees for Receiving Donations for the Support of the Bishop v. President of Eagle Bank
Supreme Court of Connecticut
This was an action of assumpsit, to recover the amount of 65 shares of stock, subscribed by the plaintiffs, on the 1st of January, 1822, and demanded of the defendants, on the 28th of March, 1826, after having given to the directors six months notice of their intention to withdraw them.
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This was an action of assumpsit, to recover the amount of 65 shares of stock, subscribed by the plaintiffs, on the 1st of January, 1822, and demanded of the defendants, on the 28th of March, 1826, after having given to the directors six months notice of their intention to withdraw them. The facts in this case, were, in all material respects, the same as in the preceding case of The United Society v. The Eagle Banli, except so far as the right of the plaintiffs depended on the nature of their institution. Their charter of incorporation, granted, by the General Assembly, in May, 1799, is as…
1Opinion of the Court
Hosmer, Ch. J.
The facts in this case are substantially like those in the preceding case of The United Society v. Eagle Bank; and, of consequence, the result must be the same.
It was suggested at the bar, but not strongly pressed, that the plaintiffs are not a charitable society, within the meaning of the law. If this were so, it would form a fatal objection to their action. Their suit is founded on their being a charitable society, and by the charter of the defendants, authorized to subscribe for shares in the Eagle Bank, at their pleasure.
That they, however, are a charitable society, within…
2Cases cited1 opinion
- American Asylum at Hartford v. President of the Phoenix BankSupreme Court of Connecticut · 1822
3Cited by2 opinions
- Savings Bank of New-Haven v. Davis & CenterSupreme Court of Connecticut · 1830
- Savings Bank of New-Haven v. BatesSupreme Court of Connecticut · 1831