Nutting v. Thomasson
Supreme Court of Georgia
Stock. Dividends. Sales. Before Judge Bartlett. Bibb Superior Court. October Term, 1875. This is the fourth time this case has been before this court: See 40 Georgia Reports, 408; 43 Ibid., 598; 46 Ibid., 34. The contest here was over the dividends on the railroad stock, which had been paid to the purchasers thereof from Nutting and Cubbedge & Hazlehurst, who held under an illegal private sale made by Usher, as administrator of Wake-man.
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Stock. Dividends. Sales. Before Judge Bartlett. Bibb Superior Court. October Term, 1875. This is the fourth time this case has been before this court: See 40 Georgia Reports, 408; 43 Ibid., 598; 46 Ibid., 34. The contest here was over the dividends on the railroad stock, which had been paid to the purchasers thereof from Nutting and Cubbedge & Hazlehurst, who held under an illegal private sale made by Usher, as administrator of Wake-man. The court charged the jury that Nutting and Cubbedge & Hazlehurst were liable to the distributees of the Wake-man estate, not only for the dividends received…
1Opinion of the Court
Bleckley, Judge.
The rulings made in this litigation heretofore, settle most of the principles involved in it: See 40 Georgia Reports, 408; 43 Ibid., 598; 46 Ibid., 34. As to dividends which would have been realized by the distributees had the stock not been unlawfully converted, they seem to us to stand upon the footing of hire; and those who aided the administrator in the conversion, that is, the purchasers from him at the unauthorized sale, are liable for them. It would seem to make no difference, in principle, whether the dividends were paid directly to such purchasers or to those holding…
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