Alabama National Bank v. O'Neil
Supreme Court of Alabama
Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The facts of the case are sufficiently stated in the opinion.
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Appeal from the Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The facts of the case are sufficiently stated in the opinion. “The result of the cases would seem to be that where the management of the affairs of a corporation is entrusted to a general managing agent he has the power to assign the ehoses in action of the corporation to its creditors either iinpayment of or as security for the payment of a precedent debt of the corporation without express authority from the board of directors, and the assignment so made is valid.” — ReXierncm v. Lenten, 56 Cal. 61. Where…
1Opinion of the CourtHaralson, J.
The Lifttle Warrior Coal Company, a body corporate, executed to the complainant, Charles A. O’Neil, in February, 1895, a deed of assignment to *194its properties, including its dioses in action, for the benefit of its creditors. O’Neil filed this bill against the Coal Company and the Alabama National Bank and others, creditors of said Coal Company, for instructions ' of the court in the settlement of his trust. The only part of the bill relating to the question involved on this appeal, refers to a claim of the Alabama National Bank against said Coal Company. J. D. Hooper was the secretary and…
2Cases cited3 opinions
- Gibson v. GoldthwaiteSupreme Court of Alabama · 1845
- Bibb v. Hall & FarleySupreme Court of Alabama · 1893
- Bagby v. ChandlerSupreme Court of Alabama · 1845
3Cited by5 opinions
- Ney v. Eastern Iowa Telephone Co.Supreme Court of Iowa · 1913
- Merchants Bank v. Acme Lumber & Mfg. Co.Supreme Court of Alabama · 1909
- Buck v. GimonSupreme Court of Alabama · 1918
- Security Bank Trust Co. of Memphis, Tenn. v. LaneySupreme Court of Alabama · 1926
- Georgia Casualty Co. v. MasseySupreme Court of Alabama · 1918