Hamilton Trust Co. v. . Clemes
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the third judicial department, entered May 33, 1897, affirming a judgment in favor of plaintiff entered Upon a decision of the court on trial at Special Term.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the third judicial department, entered May 33, 1897, affirming a judgment in favor of plaintiff entered Upon a decision of the court on trial at Special Term. This action was brought to foreclose a mortgage for $150,000, dated March 1, delivered June 1 and recorded June 12, 1895, given by the Horicon Improvement Company to the plaintiff as trustee for the bondholders, upon certain' premises near Lake George known as the Lake House and Prospect Mountain properties. The appellants, as subsequent judgment creditors of the…
1Opinion of the CourtVann, J.
When the Horicon Improvement Company was ' organized its charter provided for only three directors, but, when the mortgage in question was given a few months later, the number of directors had been increased to seven. As the resolution to mortgage could not have been passed without the vote of one or more of the additional directors, who were not stockholders of record at the time, but simply assignees of a certain number of shares represented by a stock certificate issued in the name of another person, it is claimed by the appellants that the mortgage is invalid because it was authorized by…
2Cases cited9 opinions
- In re HoweNew York Court of Chancery · 1828
- Payne v. . WilsonNew York Court of Appeals · 1878
- Chase v. . PeckNew York Court of Appeals · 1860
- Perry v. Board of Missions of the Protestant Episcopal Church in the DioceseNew York Court of Appeals · 1886
- White Water Valley Canal Company v. ValletteSupreme Court of the United States · 1859
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3Cited by24 opinions
- Harrigan v. GilchristWisconsin Supreme Court · 1904
- Eastman v. ParkinsonWisconsin Supreme Court · 1907
- Swan v. StilesAppellate Division of the Supreme Court of the State of New York · 1904
- Ebling Brewing Co. v. GennaroAppellate Division of the Supreme Court of the State of New York · 1919
- In re Post & Davis Co.Court of Appeals for the Second Circuit · 1914
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