Bank of Niagara v. Johnson
New York Supreme Court
Demurrer to replications. This is an action of debt, commenced in May, 1830, in the name of “ The President, Directors and Company of the Bank of Niagara,” against the defendant, as one of the directors of such bank, for a penalty aljegecj t0 have been incurred by him, under the second section °f the act “ to prevent fraudulent bankruptcies by incorporated companies,” passed 21st April, 1825, Laws of 1825, p. 448. by being present at a meeting of the board of directors on…
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Demurrer to replications. This is an action of debt, commenced in May, 1830, in the name of “ The President, Directors and Company of the Bank of Niagara,” against the defendant, as one of the directors of such bank, for a penalty aljegecj t0 have been incurred by him, under the second section °f the act “ to prevent fraudulent bankruptcies by incorporated companies,” passed 21st April, 1825, Laws of 1825, p. 448. by being present at a meeting of the board of directors on the 23d November, 1825, andnot dissenting from a resolution then passed, directing the cashier of the bank to pay to…
1Opinion of the Court
By the Court, Sutherland. J.
It is contended on behalf of the defendant, that the replication admits that the plaintiffs have become dissolved as a corporation, and therefore having no legal existence, that a suit cannot be prosecuted in their name. The dissolution of the corporation, or the surrender of their rights, privileges and franchises, admitted by the pleadings, is such surrender or dissolution, and such only, as the 6th section of the act of 1825, page 450, declares shall be the consequence of its insolvency, or of its neglect or refusal to redeem its notes, or of the suspension of…
2Cases cited3 opinions
- Verplanck v. Mercantile InsuranceNew York Court of Chancery · 1831
- Briggs v. PennimanCourt for the Trial of Impeachments and Correction of Errors · 1826
- Haxton v. BishopNew York Supreme Court · 1829
3Cited by21 opinions
- People v. President & Directors of the Manhattan Co.New York Supreme Court · 1832
- Sprowl v. LawrenceSupreme Court of Alabama · 1859
- Erie & North-East Railroad v. CaseySupreme Court of Pennsylvania · 1856
- Ames v. Lake Superior & Mississippi RailroadSupreme Court of Minnesota · 1875
- Cockrill v. AbelesCourt of Appeals for the Eighth Circuit · 1898
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