Rorke v. . Thomas

[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.] The Special Term found "that while the defendants were trustees, they, as such trustees, declared and paid, out of the property of said corporation, a dividend which rendered the said company insolvent, and which diminished the amount of the capital stock thereof;" and the only question in the case is, whether there was any evidence to justify this finding.

The contract of sale to Houghton is somewhat ambiguous, but I do not think the legal effect of it was to…