May v. McQuillan
Michigan Supreme Court
Appeal from Ingham; Wiest, J. Bill by John A. May, receiver of the Ingham County Savings Bank, against Richard McQuillan and Law M. Simpson, to determine the ownership of certain shares of bank stock, and the consequent liability to an assessment. From a decree against defendant McQuillan, he appealed. On his death the cause was revived in the name of his administratrix, Alice McQuillan.
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Appeal from Ingham; Wiest, J. Bill by John A. May, receiver of the Ingham County Savings Bank, against Richard McQuillan and Law M. Simpson, to determine the ownership of certain shares of bank stock, and the consequent liability to an assessment. From a decree against defendant McQuillan, he appealed. On his death the cause was revived in the name of his administratrix, Alice McQuillan. Defendant Simpson resided in Jackson, Mich.; and Richard McQuillan, the deceased, in Lansing. About the 1st of August, 1896, they entered into negotiations for an exchange of properties, by which Simpson was…
1Opinion of the CourtGbant, J.
(after stating the facts). ■ The proofs fail to establish that McQuillan acted in bad faith, and that he transferred his stock in order to avoid liability. There is nothing unusual in the transaction which casts suspicion upon his honesty. The memorandum agreement of August 3d between Simpson and McQuillan was not an absolute agreement on the part of either to trade. On the contrary, it was optional with either one to refuse to do so, upon the forfeiture of $50 to the other party. It is obvious that the title to none of the property which was the subject of the trade passed until the…
2Cases cited1 opinion
- Pacific National Bank v. EatonSupreme Court of the United States · 1891
3Cited by9 opinions
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