Frame v. Trenton Milk & Cream Co.

Hazard, J.:

The defendant is a corporation and the plaintiff is a stockholder holding three shares of defendant’s stock. On or about April 2, 1924, defendant declared a dividend of twenty per cent. This action was brought to recover the amount of the dividend claimed to be due to the plaintiff, amounting to thirty dollars, and also the sum of ten dollars due to another stockholder, one Roberts, and ten dollars due to a third stockholder, one Perry, the latter two claims having been assigned to the plaintiff. The declaring of the dividend is admitted by the defendant, but it sets up as a…