Francis Oil & Refining Co. v. David A. Manville & Co.

(after stating the facts as above). [1] The questions here presented are well considered in the opinion of Judge Learned Hand. We agree with him that the agreement between the parties is of a fiduciary nature, which obligated defendant to account to plaintiff.

We think, also, that the agreement, displayed in the contract dated March 10, 1922, was not one which could be made by the president of plaintiff without authority of the directors or the corporation, and there is no -evidence that such authority was given or that there was any acquiescence by the directors or the corporation in any of…