Hechelman v. Geyer
Supreme Court of Pennsylvania
Appeal, No. 168, Oct. T., 1914, by plaintiff, from decree of C. P. Allegheny Co., April T., 1914, No. 562, in equity, dismissing bill in equity for discovery and an accounting in case of Herman W. Hechelman v. Charles Geyer, Joseph Stybr, Morris Einstein and Pennsylvania Light & Power Company. Bill in equity to declare a trust and for an accounting. Before Miller, J., specially presiding. The opinion of the Supreme Court states the case.
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Appeal, No. 168, Oct. T., 1914, by plaintiff, from decree of C. P. Allegheny Co., April T., 1914, No. 562, in equity, dismissing bill in equity for discovery and an accounting in case of Herman W. Hechelman v. Charles Geyer, Joseph Stybr, Morris Einstein and Pennsylvania Light & Power Company. Bill in equity to declare a trust and for an accounting. Before Miller, J., specially presiding. The opinion of the Supreme Court states the case. See also Provident Trust Co. v. Geyer, 248 Pa. 423. The court on final hearing dismissed the bill. Plaintiff appealed. Errors assigned were in dismissing…
1Opinion of the Court
Opinion by
Mr. Justice Elkin,
In the consideration of cases of the character of the one here presented, it is important to keep in mind certain settled and fundamental principles. For the purpose of illustrating this thought, the following authorities may be cited. The directors of a corporation are trustees, or quasi trustees, of its capital and assets, and as such are liable for any breach of duty with respect thereto: Cornell v. Seddinger, 237 Pa. 389. A director of a corporation occupies such a fiduciary relation to it that he cannot retain secret profits received in the management of its…
2Cases cited7 opinions
- Commonwealth Title Insurance & Trust Co. v. SeltzerSupreme Court of Pennsylvania · 1910
- Porter v. HealySupreme Court of Pennsylvania · 1914
- Bird Coal & Iron Co. v. HumesSupreme Court of Pennsylvania · 1893
- Cornell v. SeddingerSupreme Court of Pennsylvania · 1912
- Douglass-Whisler Brick Co. v. SimpsonSupreme Court of Pennsylvania · 1912
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3Cited by10 opinions
- Glenn v. Kittanning Brewing Co.Supreme Court of Pennsylvania · 1918
- Union of Russian Societies of St. Michael & St. George, Inc. v. KossSupreme Court of Pennsylvania · 1944
- Selheimer v. Manganese Corp. of AmericaSupreme Court of Pennsylvania · 1966
- In Re REA Express, Inc., Private Treble Damage, Etc.District Court, E.D. Pennsylvania · 1976
- Bangor Silk Knitting Co. v. WiseSupreme Court of Pennsylvania · 1923
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