McLaran v. Crescent Planing Mill Co.
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court. — No». Moses N. Sale, Judge. (1) The action of defendant’s directors in merely adopting a resolution declaring a dividend was incomplete, and was not alone sufficient to vest in -this plaintiff a right of action for the installment due April 1st. Ford v. Easthompton Rubber Co., 158 Mass. 184; 9 Am. and Eng.
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Appeal from St. Louis City Circuit Court. — No». Moses N. Sale, Judge. (1) The action of defendant’s directors in merely adopting a resolution declaring a dividend was incomplete, and was not alone sufficient to vest in -this plaintiff a right of action for the installment due April 1st. Ford v. Easthompton Rubber Co., 158 Mass. 184; 9 Am. and Eng. Ency. of Law, p. 680; 2 Cook on Corporations (4 Ed.), sec. 534; Anderson’s Law Diet., p. 369; 2 Thompson on Corp., sec. 2126 '^Fárry v. Eagle Lock Co., 47 Conn. 141; Gordon v. Railroad, 81 Ya. 621; Curry v. .Woodward, 34 Ala. 305; Uitrate Oo. v.…
1Opinion of the CourtNortoni, J.
(after stating the facts).
1. As will appear by reference to the statement of facts, we have to deal with the declaration of a cash dividend by a solvent corporation possessed of ample undivided profits and surplus, under circumstances that made its declaration entirely competent and proper. And here it may not be out of place to say that the court is grateful to the learned counsel representing either party for most carefully prepared and thoughtful briefs presenting the several views of the application of pertinent principles. Indeed, there is but one question presented for decision, and it…
2Cases cited12 opinions
- In Re the Final Accounting of KernochanNew York Court of Appeals · 1887
- Hopper v. . SageNew York Court of Appeals · 1889
- Brundage v. . BrundageNew York Court of Appeals · 1875
- Wheeler v. Northwestern Sleigh Co.U.S. Circuit Court for the District of Eastern Wisconsin · 1889
- Wheeler Beers v. Bridgeport Spring Co.Supreme Court of Connecticut · 1875
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3Cited by23 opinions
- Hayes v. St. Louis Union Trust Co.Supreme Court of Missouri · 1927
- Staats v. Biograph Co.Court of Appeals for the Second Circuit · 1916
- In re Wilson's EstateOregon Supreme Court · 1917
- Bank of Am. Nat'l Trust & Sav. Ass'n v. CranstonCalifornia Court of Appeal · 1967
- Union & New Haven Trust Co. v. WatrousSupreme Court of Connecticut · 1929
18 more not listed; retrieve them via the Exa API.