Bowers v. . Male
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered February 5, 1906, affirming a judgment in favor of plaintiff entered upon the report of a referee.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered February 5, 1906, affirming a judgment in favor of plaintiff entered upon the report of a referee. This action was brought by the receiver of the Mercantile Credit Guarantee Company of New York to recover from directors of that company the.sum of $30,000 of the corporate funds alleged to have been misapplied and wasted in the purchase of 300 shares of the worthless stock of a corporation known as the Reserve Company. Further facts appear in the opinion. The purchase of the Reserve…
1Opinion of the CourtWerner, J.
The referee’s opinion, upon which the judgment herein was affirmed at the Appellate Division, so fully sets forth the facts of the case and so clearly demonstrates the legal liability of the defendants that we should also feel disposed to affirm without discussion were it not for one feature of the able and ingenious argument of counsel for the appellants that should not pass unchallenged.
Counsel contend that the courts below have erred in ascribing illegality to the whole of a concrete transaction by selecting for condemnation a single one of the parts which, although concededly repugnant to…
2Cases cited3 opinions
- O'Brien v. . FitzgeraldNew York Court of Appeals · 1894
- Attorney-General v. Guardian Mutual Life InsuranceNew York Court of Appeals · 1879
- Mason v. . HenryNew York Court of Appeals · 1897
3Cited by8 opinions
- Subin v. GoldsmithCourt of Appeals for the Second Circuit · 1955
- Abrams v. AllenNew York Court of Appeals · 1947
- People v. Equitable Life Assurance Society of United StatesAppellate Division of the Supreme Court of the State of New York · 1908
- Hazard v. . WightNew York Court of Appeals · 1911
- Clayton v. FarishNew York Supreme Court · 1947
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