Walker v. Johnson
Court of Appeals for the D.C. Circuit
Hearing on an appeal by the defendants from an order of the Supreme Court of the District of Columbia restraining them pendente lite from holding a corporate election. The Court in its opinion stated the case as follows: This is an appeal from a decree granting a preliminary injunction to restrain the holding of a corporate election.
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Hearing on an appeal by the defendants from an order of the Supreme Court of the District of Columbia restraining them pendente lite from holding a corporate election. The Court in its opinion stated the case as follows: This is an appeal from a decree granting a preliminary injunction to restrain the holding of a corporate election. All of the parties to the suit are members, and some of them officers, of the Mutual Fire Insurance Company, a corporation of the District of Columbia created by special act of Congress, approved January 10, 1855. The object of the corporation is to insure…
1Opinion of the CourtJustice Shepard
1. Whilst the Mutual Fire Insurance Company of this controversy is not a regular private business corporation with fixed capital stock distributed among subscribers thereto and their assignees, it must nevertheless be regarded as a trading or business association in contradistinction to those that are eleemosynary. Its members are actuated by the desire of pecuniary gain. Insurance against fire is a practical necessity and their object is to procure it as cheaply as possible. They do not become members by subscription to stated and permanent capital stock, for there is none in the technical…
2Cases cited11 opinions
- Moses v. TompkinsSupreme Court of Alabama · 1887
- Union Bank v. RidgelyCourt of Appeals of Maryland · 1827
- Webb v. RidgelyCourt of Appeals of Maryland · 1873
- Brown v. Pacific Mall Steamship Co.U.S. Circuit Court for the District of Southern New York · 1867
- Supreme Lodge, Order of the Golden Chain v. SimeringCourt of Appeals of Maryland · 1898
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