Legal Opinion
Patterson v. Thompson
U.S. Circuit Court for the District of Oregon
Decided March 24, 1898PublishedCited by 4 opinions
This was an action bj C. M. Patterson against D. P. Thompson to enforce an alleged personal liability under the Oregon statute, on the ground that defendant, as a director in a savings bank, had joined in declaring and paying a dividend while the corporation was insolvent.
1Opinion of the Court
GILBERT, Circuit Judge.
The plaintiff; in this action seeks to hold the defendant liable for a debt of the Portland Savings Bank, under the provision® of section 3231, 2 Hill’s Ann. Laws Or., which provides as follows:
“If the directors of a corporation declare and pay dividends when the corporation is insolvent, or which renders it insolvent, or diminishes the amount of its capital stock, such directors shall be jointly and severally liable for the debts of the corporation then existing or incurred while they remain in office; or if such directors shall, by any official act or conduct,…
2Cases cited18 opinions
- Huntington v. AttrillSupreme Court of the United States · 1892
- Merchants' Bank of New Haven v. BlissNew York Court of Appeals · 1866
- Chase v. CurtisSupreme Court of the United States · 1885
- Woolverton v. TaylorIllinois Supreme Court · 1890
- Breitung v. LindauerMichigan Supreme Court · 1877
13 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Moss v. SmithCalifornia Supreme Court · 1916
- Brown v. MajorCourt of Appeals for the Ninth Circuit · 1908
- Patterson v. WadeCourt of Appeals for the Ninth Circuit · 1902
- Fletcher v. JonesDistrict Court, D. Maine · 1923