Alabama Coal & Coke Co. v. Shackelford
Supreme Court of Alabama
AppExAL from tlie Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The bill in this case was filed by the appellees, W. C, Shackelford and Jos. V. Allen, against the appellants, the Alabama Coal & Coke Co., a corporation, Adler & Co., a co-partnership, and Morris Adler, Samuel M. Adler and Edgar L. Adler. The following facts were averred in the bill: The Alabama Coal & Coke Company was a corporation duly organized under the laws of the; State.
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AppExAL from tlie Chancery Court of Jefferson. Heard before the Hon. John C. Carmichael. The bill in this case was filed by the appellees, W. C, Shackelford and Jos. V. Allen, against the appellants, the Alabama Coal & Coke Co., a corporation, Adler & Co., a co-partnership, and Morris Adler, Samuel M. Adler and Edgar L. Adler. The following facts were averred in the bill: The Alabama Coal & Coke Company was a corporation duly organized under the laws of the; State. Its capital stock consisted of five hundred shares of the par value of $100 each. The general purpose 'and nature of the business…
1Opinion of the Court
MoCLELLAN,-G. J.
It/is no ground for the appointment of a receiver of a corporation that 'tire directors in office are holding over after' the year 'for which they were elected in default of the election of their successors by the stockholders. And the- cause of such default is of no consequence. It may be that 'the stockholders desired the directors to.continue in office and it was inconvenient to meet and re-elect them, or that an. election was permitted 'through mere inadvertence, or 'that there were such dissensions among the: shareholders and the holdings-of the, dissentients were, so…
2Cited by14 opinions
- Belcher v. Birmingham Trust National BankDistrict Court, N.D. Alabama · 1968
- Henry v. IdeSupreme Court of Alabama · 1922
- Boyle v. Superior CourtCalifornia Supreme Court · 1917
- Hayes v. Jasper Land Co.Supreme Court of Alabama · 1906
- Henry v. IdeSupreme Court of Alabama · 1923
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