Zimmerman v. Western & Southern Fire Insurance
Supreme Court of Arkansas
Appeal from Benton Chancery 'Court; T. 3. Humphreys, Chancellor; 1. Zimmerman was not a director after April 15, 1906. We submit the following on the question of minutes as evidence. Abbotts Trial Ev.
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Appeal from Benton Chancery 'Court; T. 3. Humphreys, Chancellor; 1. Zimmerman was not a director after April 15, 1906. We submit the following on the question of minutes as evidence. Abbotts Trial Ev. (2 ed.), 57-67; 62 Ark. 33; 7 R. C. L., § 124; 5 N. J. -Sec. 137. If he was elected, an acceptance was necessary; 2 Cook on Corp., § 624; 10 Cyc. 740. He had no knowledge of his .election and could not be held liable. 110 Ark. 39. No form of resignation is necessary, nor is it necessary that the resignation be accepted. 2 -Cook on Corp., § 624; 174 N. Y. 247; 95 A. S. R. 574, and notes 578-9;…
1Opinion of the CourtMcCulloch, C. J.
This appeal involves several consolidated actions instituted in the chancery court of Benton Gounty against defendants, Zimmerman and others, directors of a defunct banking corporation doing business at Biloam Springs, to recover on account of liability alleged to have been incurred by reason of their neglect of duty in the management of the affairs of said bank. The bank was declared to be insolvent in the summer of 1910, and a receiver was appointed, and the uncontradicted evidence in this case shows that it had been insolvent for three or four years, at least, prior to the appointment of a…
2Cases cited2 opinions
- Van Amburgh v. . BakerNew York Court of Appeals · 1880
- Bank of Des Arc v. MoodySupreme Court of Arkansas · 1913
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- Love v. CouchSupreme Court of Arkansas · 1930
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- Air Leases, Inc. v. BakerDistrict Court, W.D. Arkansas · 1958
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