Bailey v. O'Neal
Supreme Court of Arkansas
Appeal from Independence Circuit Court; Frederick D. Fulkerson, Judge; Trustees are not .held responsible for the devastavit which co-trustees may perpetrate. 141 U. S. 151; 30 Fed. 307; Story’s Eq. Jur. § 1280; Perry on Trusts, § 417. Directors of corporations may delegate duties to cashiers as well as to presidents. 77 Ark. 172; 62 Ark. 33; 66 Ark. 327; 141 U. S. 132; 155 Mo. 1; 87 Ky. 574; 147 Pa.
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Appeal from Independence Circuit Court; Frederick D. Fulkerson, Judge; Trustees are not .held responsible for the devastavit which co-trustees may perpetrate. 141 U. S. 151; 30 Fed. 307; Story’s Eq. Jur. § 1280; Perry on Trusts, § 417. Directors of corporations may delegate duties to cashiers as well as to presidents. 77 Ark. 172; 62 Ark. 33; 66 Ark. 327; 141 U. S. 132; 155 Mo. 1; 87 Ky. 574; 147 Pa. St. 140; 12 S’erg. & R. 256; 8 Wheat. 338; 91 Fed. 587; 33 C. C. A. 222; 183 Mo. 552; 82 S. W.76. Directors are not trustees. 59 Ark. 562; 71 Ark. 438. The court will take judicial notice of the…
1Opinion of the CourtHart, J.
W. R. O’Neal and S. Heineman brought separate suits in the Jackson Circuit Court against A. D. Bailey, George W. Decker, Thomas J. Graham, J. M. Jones, Joseph M. Stay-ton, E. P. Shoffner and T. S. Stephen. The complaint in each case, in substance, alleges that the Bank of Newport was a corporation, organized under the laws of the State of Arkansas, and was engaged in carrying on a general banking business at Newport, Arkansas. That the plaintiff was a depositor in said bank, and that the defendants were directors thereof. That said bank became insolvent, and on the 20th day of April, 1906, a…
2Cases cited5 opinions
- Patterson v. StewartSupreme Court of Minnesota · 1889
- Fletcher v. EagleSupreme Court of Arkansas · 1905
- Jones v. HarrisSupreme Court of Arkansas · 1909
- Beekman Lumber Co. v. AhernSupreme Court of Arkansas · 1905
- Myar v. PoeSupreme Court of Arkansas · 1906
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- Haynes v. GwinSupreme Court of Arkansas · 1919
- Webb v. CashWyoming Supreme Court · 1926
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