In re Stucky Trucking & Rigging Co.
District Court, D. New Jersey
In Bankruptcy. In the matter of the Stucky Trucking & Rigging Company, bankrupt.' On petition to review an order of the referee disallowing the claim of Joseph B. Stucky.
1Opinion of the Court
HAIGHT, District Judge.
[1] That part of the claim in question which has not been reduced to judgment, and which is based on promissory notes given by the bankrupt, admittedly, for an indebtedness of a third party to the claimant, is unquestionably an unenforceable obligation against the bankrupt. It would be difficult, indeed, to imagine a more flagrant example of an ultra vires contract than that which resulted in giving the notes in question. They represent part of the purchase price of a certain amount of the capital stock of the bankrupt corporation which Allen individually purchased from…
2Cases cited2 opinions
- Baird v. SmithCourt of Appeals for the Seventh Circuit · 1916
- Chandler v. ThompsonCourt of Appeals for the Seventh Circuit · 1902
3Cited by10 opinions
- Heiser v. WoodruffSupreme Court of the United States · 1946
- In Re: Xyz Options, Inc., Debtor. Donald Dionne, as Trustee of the Estate of Xyz Options, Inc. v. W. Leo Keating, in Re: Xyz Options, Inc., Debtor. Donald Dionne, as Trustee of the Estate of Xyz Options, Inc. v. Scott M. Spangler, Jean G. Spangler, the Scott M. Spangler Charitable TrustCourt of Appeals for the Eleventh Circuit · 1998
- In Re Reliable Manufacturing Corporation, Debtor. Libco Corporation v. Charles W. Leigh and Ervin F. DusekCourt of Appeals for the Seventh Circuit · 1983
- Irving Trust Co. v. Metropolitan Life Ins.Court of Appeals for the Second Circuit · 1936
- Dionne v. MuscarellaCourt of Appeals for the Eleventh Circuit · 1998
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