Godbold v. Branch Bank at Mobile
Supreme Court of Alabama
Error to the Circuit Court of Baldwin. Action on the case by the defendant against the plaintiff in error. The declaration contains two counts— 1. After the formal part, “ For that whereas, heretofore, to wit, &c. on, &c., the said plaintiff, was lawfully possessed of a large amount of funds, and effects, consisting of gold and silver coin, bank bills, &c., of great value, to wit, of the value of $2,000,000, as, and for, the capital stock of said plaintiff, as a body…
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Error to the Circuit Court of Baldwin. Action on the case by the defendant against the plaintiff in error. The declaration contains two counts— 1. After the formal part, “ For that whereas, heretofore, to wit, &c. on, &c., the said plaintiff, was lawfully possessed of a large amount of funds, and effects, consisting of gold and silver coin, bank bills, &c., of great value, to wit, of the value of $2,000,000, as, and for, the capital stock of said plaintiff, as a body corporate, duly created. And on the day and year aforesaid, the said defendant, with others, was duly elected, and employed,…
1Opinion of the CourtOrmond, J.
This action is against the defendant, as one of the majority of the board of directors of the Branch Bank of Mobile, by whose act a sum of money was appropriated to compensate another director, as an agent of the bank.
In the Branch Bank at Mobile v. Collins, 7 Ala. 95, this was held to be illegal, and that the money so unlawfully received could be recovered from the director receiving it, by action of assumpsit. This action is against an individual director, who by voting with the majority participated in the unlawful act, but did not receive the money.
The act incorporating this, as well as…
2Cases cited3 opinions
- Franklin Fire Insurance v. JenkinsNew York Supreme Court · 1829
- Branch of the Bank of Alabama at Mobile v. CollinsSupreme Court of Alabama · 1844
- Bayon v. VavasseurSupreme Court of Louisiana · 1821
3Cited by17 opinions
- Wallace v. Lincoln Savings BankTennessee Supreme Court · 1891
- Alderman v. AldermanSupreme Court of South Carolina · 1935
- King v. Livingston Manufacturing Co.Supreme Court of Alabama · 1915
- Marshall v. F. & M. Savings BankSupreme Court of Virginia · 1889
- Blythe v. EnslenSupreme Court of Alabama · 1919
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