Minnis v. . Sharpe

"What duty does tbe law impose upon directors of a business corporation ?

Tbis 'cause was considered by tbis Court upon a former appeal reported in 198_N. C., p,, 364, 151 S. E., .735. Tbe decision establishes tbe proposition that a cause of action was properly alleged against tbe directors of tbe company wbo were parties to tbe suit.

There was much evidence introduced as to many transactions involving false representations! and fraudulent devices in issuing bonds or notes purporting to be secured by first mortgage on real estafe, extending over a period of several years. That is to say, a…