Thomas v. Matthews
Ohio Supreme Court
Error to the Court of Appeals of Clark county. On the 31st day of December, 1912, Mabel T. Matthews filed a petition in the common pleas court of Clark county against William S. Thomas, to which the defendant filed a motion to make the same more definite and certain.
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Error to the Court of Appeals of Clark county. On the 31st day of December, 1912, Mabel T. Matthews filed a petition in the common pleas court of Clark county against William S. Thomas, to which the defendant filed a motion to make the same more definite and certain. This motion was sustained, and on March 1, 1913, an amended petition was filed, in which the plaintiff asked a judgment against the defendant in sums equal to an additional dividend which she claimed should have been declared on stock in The Thomas Manufacturing Company, a corporation organized under the laws of Ohio, for the…
1Opinion of the CourtDonahue, J.
If it be true, as pleaded in the petition, that W. S. Thomas entered into this agreement for the declaration and payment of dividends by The Thomas Manufacturing Company in consideration that he be released from personal liability as executor of the estate of John H. Thomas, for money unlawfully loaned by him as executor to The Thomas Manufacturing Company, or for any other consideration personal to himself, then this agreement is against public policy and void.
It is the settled law of this state that directors must manage the corporate business with a view solely to the common interest, and…
2Cases cited13 opinions
- Sibbald v. . the Bethlehem Iron CompanyNew York Court of Appeals · 1881
- Wardell v. Railroad Co.Supreme Court of the United States · 1881
- Williams v. McMillanOhio Supreme Court · 1849
- West v. CamdenSupreme Court of the United States · 1890
- Guernsey v. CookMassachusetts Supreme Judicial Court · 1876
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3Cited by47 opinions
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