Phillips v. Blatchford
Massachusetts Supreme Judicial Court
Bill m equity, filed November 9, 1881, against the surviving executor of the will of Marshall S. Scudder, for contribution.
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Bill m equity, filed November 9, 1881, against the surviving executor of the will of Marshall S. Scudder, for contribution. The bill, as amended, alleged the following facts: On or about June 1, 1874, certain persons entered into a co-partnership styled the Ryder Reciprocal Grate Association, under a declaration of trust, by the terms of which no member, as such, was to have any control over the business of the association, which was to be entirely under the control of a board of managers, of whom the trustee was to be a member, and the other members were to be elected by the shareholders.…
1Opinion of the CourtHolmes, J.
It is too late to contend that partnerships with transferable shares are illegal in this Commonwealth. They have been recognized as lawful by the court, from Alvord v. Smith, 5 Pick. 232, to Gleason v. McKay, 134 Mass. 419. Even if the question were a new one, we should come to the same result. The grounds upon which they were formerly said to be illegal in England, apart from statute, have been abandoned in modern times. Walburn v. Ingilby, 1 Myl. & K. 61, 76. Garrard v. Hardey, 5 Man. & G. 471. Harrison v. Heathorn, 6 Man. & G. 81, 140. In re Mexican South American Co. 27 Beav. 474, 481; 4…
2Cases cited10 opinions
- Gleason v. McKayMassachusetts Supreme Judicial Court · 1883
- Gott v. DinsmoreMassachusetts Supreme Judicial Court · 1872
- Thayer v. DanielsMassachusetts Supreme Judicial Court · 1872
- Hoadley v. County Commissioners of EssexMassachusetts Supreme Judicial Court · 1870
- Taft v. WardMassachusetts Supreme Judicial Court · 1871
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3Cited by35 opinions
- Crocker v. Justices of the Superior CourtMassachusetts Supreme Judicial Court · 1911
- Williams v. Inhabitants of MiltonMassachusetts Supreme Judicial Court · 1913
- Larson v. SylvesterMassachusetts Supreme Judicial Court · 1933
- State Street Trust Co. v. HallMassachusetts Supreme Judicial Court · 1942
- Home Lumber Co. v. HopkinsSupreme Court of Kansas · 1920
30 more not listed; retrieve them via the Exa API.