Laurel Springs Land Co. v. Fougeray
Supreme Court of New Jersey
On appeal from a decree advised by Vice-Chancellor Pitney, whose opinion is reported in Fougeray v. Cord, 5 Dick. Ch. Rep. 186. Fougeray, who is complainant, and Cord and Korb, who are defendants, formed a corporation by certificate under the general act of this state for the purpose of buying, selling, exchanging and improving real estate, with a capital of $1,500 and a corporate existence of fifty years.
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On appeal from a decree advised by Vice-Chancellor Pitney, whose opinion is reported in Fougeray v. Cord, 5 Dick. Ch. Rep. 186. Fougeray, who is complainant, and Cord and Korb, who are defendants, formed a corporation by certificate under the general act of this state for the purpose of buying, selling, exchanging and improving real estate, with a capital of $1,500 and a corporate existence of fifty years. The first and only acquisition of land disclosed by the case was the purchase of the farm of one Stafford, to which the company took title soon after its incorporation. This tract was…
1Opinion of the Court
The opinion of the court was delivered by
Garrison, J.
The bill contains four specific charges of fraud against the defendants :
First. Appropriating the profits by way of payment for services.
Second. Fraudulent conveyance of corporate property to-themselves.
*759Third. 'Withholding information from the complainant.
Fourth. Failure to declare dividends.
All of these allegations are sustained by the proofs.
The remedy to which we think the complainant is thereupon entitled is as follows:
First. As to salaries and commissions. The decree below setting aside the resolution and putting the defendants to…
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- In re El Paso Pipeline Partners, L.P. Derivative LitigationCourt of Chancery of Delaware · 2015
- Slutzker v. RieberNew Jersey Court of Chancery · 1942
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