Spivey v. Pugh
Supreme Court of Arkansas
Appeal from Ashley Chancery Court; Z. T. Wood, Chancellor; 1. The testimony of Spivey’s personal attorney, George, as to matters that should be shown by the corporation records was incompetent under Kirby’s Digest, § § 3905, 3093. 2. Defendants have not competently shown the measure of good faith required of them as trustees of the corporate assets and they should be held responsible to the widow and administratrix of J. R. Spivey, deceased. 1. All the facts are presented to…
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Appeal from Ashley Chancery Court; Z. T. Wood, Chancellor; 1. The testimony of Spivey’s personal attorney, George, as to matters that should be shown by the corporation records was incompetent under Kirby’s Digest, § § 3905, 3093. 2. Defendants have not competently shown the measure of good faith required of them as trustees of the corporate assets and they should be held responsible to the widow and administratrix of J. R. Spivey, deceased. 1. All the facts are presented to the chancellor do not appear in the transcript, hence the presumption is that the decree below is correct. 45 Ark. 240;…
1Opinion of the CourtWood, J.
The appellant, as executrix of the estate of her deceased husband, and D. E. Watson, and H. C. Wileoxon, instituted this action in the chancery court of Ashley County, purporting to sue in their own rights and for the use and bénefit of other stockholders, similarly situated, of the Jas. L. Pugh Manuf. Co., a domestic corporation. They alleged that J. E. Spivey and Watson and Wilcoxson were stockholders. All the other stockholders were named defendants.
It was alleged that there was no organized board of directors; that the stockholders who were in charge and in control of the corporate…
2Cases cited1 opinion
- Western Union Telegraph Co. v. ArchieSupreme Court of Arkansas · 1909
3Cited by1 opinion
- England Loan Company v. CampbellSupreme Court of Arkansas · 1931