Hutchinson v. Green
Supreme Court of Missouri
Appeal from St. Louis Court of Appeals. (1) The directors of a corporation have not the power to make an assignment of its property for the benefit of creditors, without the consent, or against the will, of its stockholders. City of St. Louis v. St. Louis Gas Light Co., 70 Mo. 98; Eppright v. Nielcerson, 78 Mo. 482; Field on Corporations, sect. 151; Buford v. KeoTcuh N. L. PJct. Co., 3 Mo.
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Appeal from St. Louis Court of Appeals. (1) The directors of a corporation have not the power to make an assignment of its property for the benefit of creditors, without the consent, or against the will, of its stockholders. City of St. Louis v. St. Louis Gas Light Co., 70 Mo. 98; Eppright v. Nielcerson, 78 Mo. 482; Field on Corporations, sect. 151; Buford v. KeoTcuh N. L. PJct. Co., 3 Mo. App. 159; s. o., 69 Mo. 611. (2) If the board of directors had the power, without a vote of the stockholders, to make an assignment of the property of the corporation for the benefit of creditors, the…
1Opinion of the CourtBlack, J.
This case is an outgrowth of Ward v. Davidson, 89 Mo. 445. By the decree rendered in that case, certain directors of the Keokuk Northern Line-Packet Company were removed from office. Thereafter, and at a special election held on the seventeenth of November, 1880, pursuant to the order of the circuit court, four directors were elected to fill the unexpired term of the removed directors. There had been a disagreement of long standing between the officers and stockholders-as to the management of- the affairs of the company, which resulted in two parties, one known as the Davidson, or majority,…
2Cases cited5 opinions
- Ward v. DavidsonSupreme Court of Missouri · 1886
- Eppright v. NickersonSupreme Court of Missouri · 1883
- Chew v. EllingwoodSupreme Court of Missouri · 1885
- Shockley v. FisherSupreme Court of Missouri · 1882
- De Camp v. AlwardIndiana Supreme Court · 1876
3Cited by11 opinions
- Foster v. Mullanphy Planing Mill Co.Supreme Court of Missouri · 1887
- Calumet Paper Co. v. Haskell Show Printing Co.Supreme Court of Missouri · 1898
- Huse v. AmesSupreme Court of Missouri · 1890
- Alberger v. National Bank of CommerceSupreme Court of Missouri · 1894
- In re De Camp Glass Casket Co.Court of Appeals for the Sixth Circuit · 1921
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