Dunn's Adm'r v. Kyle's Ex'r
Court of Appeals of Kentucky
Cases 21, 22, 23 — PETITIONS ORDINARY APPEALS from mercer circuit court. 1. Directors of a bank are trustees for the stockholders, and as such bound for losses occasioned by their fraud or negligence.
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Cases 21, 22, 23 — PETITIONS ORDINARY APPEALS from mercer circuit court. 1. Directors of a bank are trustees for the stockholders, and as such bound for losses occasioned by their fraud or negligence. (Angelí & Ames on Corp., secs. 304, 314, pp. 317, 325, 329; Gratz v. Redd, 4 B. Mon. 195 ; United Society of Shakers v. Underwood, &c., 9 Bush, 617;, Act incorporating Bank of Bowling Green, Acts 1855, p. 519; Act incorporating Savings Institution of Harrodsburg, Acts 1849-50, pp. 617, 624; Attorney-General v. Leicester, 7 Beav. 176.) 2. The directors had knowledge sufficient to put them upon…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion oe the court.
"We have devoted much time to the consideration of the questions arising upon the demurrer of the appellees to the several petitions filed by the appellants, and while many of the objections urged are well taken, and fatal to some of the grounds of complaint, still the answer filed may be regarded as raising such an issue as authorized the court below to pass upon the facts. This the court must have done, as the demurrer to the petition as amended was overruled and an affirmance now, by reason of the defective pleading, would amount to a disposal…
2Cases cited1 opinion
- United Society of Shakers v. UnderwoodCourt of Appeals of Kentucky · 1873
3Cited by11 opinions
- Marshall v. F. & M. Savings BankSupreme Court of Virginia · 1889
- Savings Bank of Louisville's Assignee v. CapertonCourt of Appeals of Kentucky · 1888
- Enterprise Foundry & MacHine Works v. Miners' Elkhorn Coal Co.Court of Appeals of Kentucky (pre-1976) · 1931
- Jones v. JohnsonCourt of Appeals of Kentucky · 1888
- Stone v. RottmanSupreme Court of Missouri · 1904
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