Harvey v. Linville Improvement Co.
Supreme Court of North Carolina
AotioN for an injunction and other relief, by W. S. Harvey, Trustee, against the Linville Improvement Company, Hugh MacRae and others, pending in Caldwell County, and heard, on motion, before Timberlake, J., at Burnsville, on May 22, 1895, upon complaint, used as an affidavit, and upon other affidavits and documents adduced in behalf of plaintiff and defendants.
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AotioN for an injunction and other relief, by W. S. Harvey, Trustee, against the Linville Improvement Company, Hugh MacRae and others, pending in Caldwell County, and heard, on motion, before Timberlake, J., at Burnsville, on May 22, 1895, upon complaint, used as an affidavit, and upon other affidavits and documents adduced in behalf of plaintiff and defendants. His Honor refused the injunction and rendered the following judgment, in which the facts are succinctly stated : “ This cause coming on to be heard before me, in Chambers, at Burnsville, N. C., on Wednesday, the 22d day of May, 1895,…
1Opinion of the Court
Clark, J.:
At common law stockholders could not vote by proxy. Taylor v. Griswold, 14 N. J. Law, 222, and other cases cited in Cook on Stocks, Sec. 610. This is now otherwise, but it is still held that each stockholder, whether by himself or by proxy, must be free to cast his vote for what he deems for the best interest of the corporation, the other stockholders being entitled to the benefit of such free exercise of his judgment by each ; and hence any combination or device by which any number of stockholders shall combine to place the voting of their shares in the irrevocable power of another…
2Cases cited2 opinions
- Morgan v. StruthersSupreme Court of the United States · 1889
- Williams v. MontgomeryNew York Supreme Court · 1893
3Cited by19 opinions
- Wilson v. McClennySupreme Court of North Carolina · 1964
- Matter of Morse (Bank of America)New York Court of Appeals · 1928
- Luthy v. ReamIllinois Supreme Court · 1915
- People ex rel. Arkansas Valley Sugar Beet & Irrigated Land Co. v. BurkeSupreme Court of Colorado · 1923
- Morel v. HogeSupreme Court of Georgia · 1908
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