Bank of Little Rock v. McCarthy
Supreme Court of Arkansas
APPEAL from Hot Spring Circuit Court in chancery. James B. Wood, Judge. The mortgage to McCarthy & Joyce was not authorized by a proper meeting of the board of directors. One of the directors was not notified.
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APPEAL from Hot Spring Circuit Court in chancery. James B. Wood, Judge. The mortgage to McCarthy & Joyce was not authorized by a proper meeting of the board of directors. One of the directors was not notified. All must have notice, or the proceedings are void. 52 Ark., 511 ; 14 S. W. Rep., 1101. It is true a director cannot put a stop to the corporate business by simply leaving the jurisdiction. . If after reasonable search he cannot be found, the remaining directors may attend to the necessary affairs. No case of emergency is •shown in the case, and neither personal service was had nor was…
1Opinion of the CourtHemingway, J.
The Bratt Lumber Company was a cor-, poration organized under the laws of this State, to conduct a milling and lumber business. Its stockholders were J. A. Bratt, J. H. Trump, W. H. Crawford, Leonard Bratt and C. B. Field; the board of directors was composed of the same persons, with J. A. Bratt as president and Field as secretary and treasurer. About the 1st day of August, 1889, the company owed McCarthy & Joyce about $25,000, and the Bank of Little Rock the same sum. It was in debt to its-employees and other persons in amounts aggregating about $6500. The Bratts and Trump live at Malvern,…
2Cases cited9 opinions
- Baldwin v. CanfieldSupreme Court of Minnesota · 1879
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- Chase v. TuttleSupreme Court of Connecticut · 1887
- Covert v. RogersMichigan Supreme Court · 1878
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