Jasper Land Co. v. Wallis & Carley
Supreme Court of Alabama
Appeal from the Chancery Court of Walker. Heard before the- Hon. J. C. Carmichael. The bill in this case was filed by the appellees.as holders and owners of forty-five shares of the capital stock of the Jasper Land Company, a corporation with a capital stock of $500,000 divided into 5,000 shares of the par value of $100 each. The purpose of the bill is for the appointment of a receiver of said Jasper Land Company.
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Appeal from the Chancery Court of Walker. Heard before the- Hon. J. C. Carmichael. The bill in this case was filed by the appellees.as holders and owners of forty-five shares of the capital stock of the Jasper Land Company, a corporation with a capital stock of $500,000 divided into 5,000 shares of the par value of $100 each. The purpose of the bill is for the appointment of a receiver of said Jasper Land Company. The bill is a very long one, containing many and various averments, touching many transactions had with and in reference to the Jasper Land Company since its organization on…
1Opinion of the CourtMcCLELLAN, C. J.
The Jasper Land Company has two boards of directors, or rather there are two sets of men each claiming to be and constitute its board of directors. Each of these alleged boards is attacking the integrity and existence of the other in divers proceedings at law and in chancery. Moreover, the individuals who dominate each of these boards are personally, directly or representatively, interested in the property and affairs of the corporation inimically to the complainants who are minority stockholders, so that it Avould seem that neither set of alleged directors are proper persons to invoke the…
2Cited by16 opinions
- Henry v. IdeSupreme Court of Alabama · 1922
- Boyle v. Superior CourtCalifornia Supreme Court · 1917
- Strother v. McCordSupreme Court of Alabama · 1931
- Ashton v. PenfieldSupreme Court of Missouri · 1911
- Saltz v. Saltz Bros.Court of Appeals for the D.C. Circuit · 1936
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