Mutual Life Insurance v. Granniss

The complaint sets forth five separate causes of action, to the third and fourth of which the defendant has interposed a demurrer upon the ground of the insufficiency of the facts stated. The third cause of action, stated in outline, alleges that in the year 1904 the defendant, being then a director and vice-president of the plaintiff company, made or authorized a. payment of $2,500 - out of the plaintiff’s moneys for the purpose of defraying the expenses of a campaign conducted by a political party for the election of its nominees, and that such payment was unlawful and a waste of the assets…