Union National Bank v. Hill
Supreme Court of Missouri
Appeal from Saline Circuit Court. — How. Riohaed Field, Judge. (1) A statute prescribing the duties of directors, though it declares no penalty, imposes a duty upon them, and a negligent or willful failure to perform such statutory duty lays the foundation for an action. 8 Thompson on Corps., see. 4104; Briggs v. Spaulding, 141 TJ.
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Appeal from Saline Circuit Court. — How. Riohaed Field, Judge. (1) A statute prescribing the duties of directors, though it declares no penalty, imposes a duty upon them, and a negligent or willful failure to perform such statutory duty lays the foundation for an action. 8 Thompson on Corps., see. 4104; Briggs v. Spaulding, 141 TJ. S. 152; Thompson v. Greeley, 107 Mo. 577; Thompson v. Swain, 107 Mo. 594; R. S. 1889, sec. 2758. (2) Directors of banks must exercise at least ordinary care and prudence in tbe administration of tbe affairs of tbe bank, and they are liable for tbe want of sncb care…
1Opinion of the CourtBurgess, J.
On the seventeenth day of October, 1894, the Citizens Stock .Bank of Slater, Missouri, having become insolvent, made an assignment to defendant Oom. P. Storts for the benefit of its creditors, and the plaintiffs whose demands were allowed by the assignee prosecute this suit against the bank, the assignee, and the administrator of the estate of Joseph Eield, deceased, who was cashier, and against Fields’ estate and the other defendant directors, -upon the alleged ground that the insolvency of the bank was brought about by their, neglect and mismanagement.
After a demand upon and a refusal by…
2Cases cited23 opinions
- Briggs v. SpauldingSupreme Court of the United States · 1891
- Holland v. ChallenSupreme Court of the United States · 1884
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1882
- Wallace v. Lincoln Savings BankTennessee Supreme Court · 1891
- Hun v. . CaryNew York Court of Appeals · 1880
18 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- Caldwell v. EubanksSupreme Court of Missouri · 1930
- Bank of Commerce v. GoolsbySupreme Court of Arkansas · 1917
- Ray County Savings Bank v. HuttonSupreme Court of Missouri · 1909
- Sweet v. Montpelier Savings Bank & Trust Co.Supreme Court of Kansas · 1904
- Sherwood v. Home Savings BankSupreme Court of Iowa · 1906
23 more not listed; retrieve them via the Exa API.