Scudder v. Hoyt
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtMartin, J.
In July, 1917, the defendants J. Mitchell Hoyt and Charles B. Little were in virtual control of the Smith Motor Truck Corporation of Chicago, manufacturer of truck attachments to be used on Ford Jor Dodge automobiles, they being the holders of large blocks of its stock. The plaintiff Scudder owned stock for which he paid $25,000. All three were directors, Scudder, however, having, at that time, recently become a member of the board of directors.
About July 15, 1917, Hoyt told Scudder that the corporation needed money to pay pressing debts and for working capital, and that he believed Scudder…
2Cases cited40 opinions
- Munn v. IllinoisSupreme Court of the United States · 1877
- Lochner v. New YorkSupreme Court of the United States · 1905
- Holden v. HardySupreme Court of the United States · 1898
- Noble State Bank v. HaskellSupreme Court of the United States · 1911
- Hall v. Geiger-Jones Co.Supreme Court of the United States · 1917
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3Cited by6 opinions
- Orme v. Lendahand Co.Court of Appeals for the D.C. Circuit · 1942
- Armstrong v. Rangaire Corp.District Court, S.D. New York · 1980
- Fischer v. Panasian Communications, Inc.New York Court of Appeals · 1996
- Diane, Inc. v. KapnisonNew Mexico Supreme Court · 1983
- Srebnik v. Transportation & Travel Pavilion, Inc.New York Supreme Court · 1964
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