Stoddard v. Shetucket Foundry Co.
Supreme Court of Connecticut
■ Assumpsit, to recover a dividend declared by the defendants, a corporation, of which the plaintiff was a stockholder; brought to the superior court in New London county, and tried on the general issue with notice before Park J. The jury returned a verdict for the plaintiff, and the defendants moved for a new trial. on the ground that the verdict was against the evidence.
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■ Assumpsit, to recover a dividend declared by the defendants, a corporation, of which the plaintiff was a stockholder; brought to the superior court in New London county, and tried on the general issue with notice before Park J. The jury returned a verdict for the plaintiff, and the defendants moved for a new trial. on the ground that the verdict was against the evidence. The points of law incidentally involved in the case will be sufficiently understood from the opinion, without any statement of the facts.
1Opinion of the CourtHinjian, C. J.
The plaintiff, a stockholder in the defendant corporation, brings this suit to recover his share of a dividend duly declared by the directors of the corporation, and made payable on the 25th of July, 1865. The defendants deny their liability on the ground that the directors had no right to declare the dividend in question, and on the further ground that the plaintiff obtained his stock in part by the transfer to the company of a note of about one thousand dollars which was worth only fifty per cent, of its nominal value, and that the directors had no right to receive this note in payment for…
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