Underwood v. Lennox

This is an action for money had and received, instituted on July 7, 1916, by the trustee in bankruptcy of a Massachusetts corporation to recover money paid by it to one of its stockholders in 1914. The case was referred to an auditor under an agreement that his findings of fact should be final. Upon the facts so found — and hereinafter stated in substance — judgment was ordered for the defendant and the case was reported for the determination of this court.

The corporation was organized in 1902 with a paid up capital of $25,000 contributed by the defendant and by Charles F. Coburn in equal…