Heffern Co-operative Consolidated Gold Mining & Milling Co. v. Gauthier
Arizona Supreme Court
APPEAL from a judgment of the Superior Court of the County of Cochise. A. G. McAlister, Judge. STATEMENT OF FACTS. Action brought by Theodore E. Gauthier, as administrator of the estate of Albert Heffern, deceased, on a note for $10,000 given by the Heffern Co-operative Consolidated Gold Miniiig & Milling Company, a corporation, to the deceased, Albert Heffern, in his lifetime, and to foreclose a mortgage executed to secure the payment of said note.
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APPEAL from a judgment of the Superior Court of the County of Cochise. A. G. McAlister, Judge. STATEMENT OF FACTS. Action brought by Theodore E. Gauthier, as administrator of the estate of Albert Heffern, deceased, on a note for $10,000 given by the Heffern Co-operative Consolidated Gold Miniiig & Milling Company, a corporation, to the deceased, Albert Heffern, in his lifetime, and to foreclose a mortgage executed to secure the payment of said note. The answer of the corporation charges the deceased with fraud in procuring the execution of the note and mortgage, and prays for the cancellation…
1Opinion of the CourtBaker, J.
(After Stating the Facts as Above.)— There is a prevailing idea with a great many men that majority shareholders of a corporation can conduct the business affairs of the corporation as they see fit. That is not so. While in a narrow- and restricted sense it cannot be said that the holder of the majority of the stock of the corporation occupies a relation of trust, yet it can be said in a larger and broader sense that he occupies a fiduciary relation to the holders of the minority stock and the corporation, *70who can only act through him. In the broader sense the holder of the majority of the…
2Cases cited15 opinions
- Gamble v. Queens County Water Co.New York Court of Appeals · 1890
- Jones v. Missouri-Edison Electric Co.Court of Appeals for the Eighth Circuit · 1906
- Neblett v. MacFarlandSupreme Court of the United States · 1876
- Duncomb v. . N.Y., H. N.R.R. Co.New York Court of Appeals · 1881
- Thomas v. Brownville, Fort Kearney, & Pacific RailroadSupreme Court of the United States · 1883
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3Cited by11 opinions
- Tovrea Land and Cattle Company v. LinsenmeyerArizona Supreme Court · 1966
- Weisbecker v. Hosiery Patents, Inc.Supreme Court of Pennsylvania · 1947
- Dunnett v. ArnCourt of Appeals for the Tenth Circuit · 1934
- Garrett v. Reid-Cashion Land & Cattle Co.Arizona Supreme Court · 1928
- Ellison v. SchusterArizona Supreme Court · 1929
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