Carver v. Miller & Houghton, Inc.

Notwithstanding the manipulations and transfers of the majority interests in the vessel, the defendant Miller & Houghton, Inc., appears to have been the real owner thereof before plaintiffs agreed to sell their shares. The several owners of shares in a vessel are tenants in common of the ship itself (Spedden v. Koenig, 78 Fed. Rep. 504, 505) and partners in regard to its earnings and its proceeds. Merritt v. Walsh, 32 N. Y. 685, 689; Donnell v. Walsh, 33 id. 43. Any owner may sue in equity to have his interest determined and for an accounting. Misner v. Strong, 181 N. Y. 163. But on…