Donlevy's Estate

Opinion by

Mr. Chief Justice Kephart,

Appellant, a corporation, presented its claim in the court below against the estate of a decedent for sums paid to him over a period of four years, on the theory that they were either loans or advances on dividends never declared, or voluntary payments without justification and beyond the powers of the corporation. Dece dent was chairman of the company’s board of directors, by whom these were authorized, and a holder of stock to the value of $25,000. The company’s resolutions treat the payments as “compensation” for decedent’s “contribution of stock,” to be…