Suddath v. Gallagher
Supreme Court of Missouri
Appeal from Bates Circuit Court. (1) The court erred in holding that, the surplus of insurance was not corporate property. Respondent-G-arrison, being an officer and director of the corporation, could not deal with the trust property to his individual benefit. Bent v. Priest', 10 Mo. App. 543; s. c., 86 Mo. 475; Foster v. Mill Co., 92 Mo. 79; Boanv. Winn, 93 Mo. 503; Ward v. Davidson, 89 Mo. 445; Packet Co. v. Davidson, 95 Mo. 467; Bennett v. Company, 19 Mo.
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Appeal from Bates Circuit Court. (1) The court erred in holding that, the surplus of insurance was not corporate property. Respondent-G-arrison, being an officer and director of the corporation, could not deal with the trust property to his individual benefit. Bent v. Priest', 10 Mo. App. 543; s. c., 86 Mo. 475; Foster v. Mill Co., 92 Mo. 79; Boanv. Winn, 93 Mo. 503; Ward v. Davidson, 89 Mo. 445; Packet Co. v. Davidson, 95 Mo. 467; Bennett v. Company, 19 Mo. App. 349. (2) The decree finds that-the corporation was dissolved, not simply that it had ceased to be a going concern. It does not…
1Opinion of the CourtBurgess, J.
— This is an action by plaintiff as receiver of the Montserrat Mining and Manufacturing Company, against defendants, to recover the sum of $3,000, alleged to be the property and money of said company, collected and taken charge of by the defendants as directors of said corporation, after the same became insolvent and dissolved. Plaintiff has made a full and fair statement of the salient facts in the case,, which we adopt. It is as follows:
“On the ninth day of August, 1886, The Montserrat Terra Cotta Company was incorporated as a manufacturing and business corporation under the laws of the…
2Cases cited10 opinions
- Aetna Life Ins. Co. v. MiddleportSupreme Court of the United States · 1888
- Bent v. PriestSupreme Court of Missouri · 1885
- Roan v. WinnSupreme Court of Missouri · 1887
- Foster v. Mullanphy Planing Mill Co.Supreme Court of Missouri · 1887
- Ward v. DavidsonSupreme Court of Missouri · 1886
5 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Cuesta, Rey Co. v. Newsom, as LiquidatorSupreme Court of Florida · 1931
- Lovingood v. Butler Construction Co.Supreme Court of Florida · 1930
- City National Bank v. Goshen Woolen Mills Co.Indiana Court of Appeals · 1903
- Fowler v. FowlerMissouri Court of Appeals · 1899