Bowditch v. Jackson Co.
Supreme Court of New Hampshire
Bill in Equity, to enjoin a .sale of the assets of 'the Jackson Company to the Nashua Manufacturing Company. The plaintiffs are stockholders of the Jackson Company and allege in their bill that, through control exercised by common directors, the defendants were about to execute a conspiracy to sell the assets of the Jackson Company to the Nashua Company, for an inadequate price, payable in Nashua Company stock; that in furtherance of this conspiracy, the officers had…
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Bill in Equity, to enjoin a .sale of the assets of 'the Jackson Company to the Nashua Manufacturing Company. The plaintiffs are stockholders of the Jackson Company and allege in their bill that, through control exercised by common directors, the defendants were about to execute a conspiracy to sell the assets of the Jackson Company to the Nashua Company, for an inadequate price, payable in Nashua Company stock; that in furtherance of this conspiracy, the officers had procured the assent of the holders of 460 of the 600 shares of Jackson Company stock to a trust agreement whereby they were…
1Opinion
The plaintiffs now object to the proposed sale upon the grounds (1) that the dissolution amounts to a taking of their property against their consent, (2) that in closing out a partnership any partner. can compel an auction sale of property, and (3) that the defendants have agreed for a sale to themselves.
1. The claim of a right to a sale by auction, or a price fixed by a jury, is based first upon the assumption that there is here a taking of the plaintiffs' property in invitum, and that this cannot lawfully be done except upon such an ascertainment of value. If it were true that this amounted…
2Cases cited11 opinions
- Shanks v. KleinSupreme Court of the United States · 1881
- Mason v. Pewabic Mining Co.Supreme Court of the United States · 1890
- Walling v. BurgessIndiana Supreme Court · 1890
- Robbins v. . FullerNew York Court of Appeals · 1862
- Gray v. . GreenNew York Court of Appeals · 1894
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