Dusenberry v. Sagamore Development Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, Sagamore Development Company and others, from a judgment of the Supreme Court in favor of the plaintiffs, entered in the office of the clerk of the county of Westchester on the 11th day of December, 1913, upon the decision of the court after a trial at the Westchester Special Term.
1Opinion of the Court
Jenks, P. J.:
Certain residents in suburbs of the city of New York bought land to prevent the location thereon of an institution. They formed a corporation to improve the land and then to sell it from time to time for dwellings. This litigation represents internal dissension in that corporation. The corporation was capitalized at $100,000, with 1,000 shares of stock. Of the 1,000 shares, 201 remained in the treasury. Some time after the corporation was a going concern, the defendant Leonard, who was then the president, bought for himself and for other stockholders in sympathy with him 175…
2Cases cited7 opinions
- Trustees of the Freeholders & Commonalty of Southampton v. JessupNew York Court of Appeals · 1903
- Titus v. President of the Great Western Turnpike RoadNew York Court of Appeals · 1874
- Waters v. Horace Waters & Co.New York Court of Appeals · 1911
- Lipsett v. HassardMichigan Supreme Court · 1909
- Snyder v. . LindseyNew York Court of Appeals · 1899
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3Cited by2 opinions
- Conklin v. United Construction & Supply Co.Appellate Division of the Supreme Court of the State of New York · 1915
- Behnke v. German-English Evangelical Lutheran Church of St. PaulAppellate Division of the Supreme Court of the State of New York · 1942