Hazard v. Durant

In our last previous opinion1 we suggested a question which we did not wish to decide without first having it debated by counsel. The question which since then has been ably argued, is this: The defendant, Durant, who is charged in the bill with having misappropriated or wrongfully converted to his own use certain funds belonging to the Credit Mobilier of America, a corporation of which he was the president, neglected to answer the bill until the time for answering it had elapsed. The bill was accordingly taken as confessed, and a decree was entered by a single justice, from which Durant…