Craig v. James
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendants, Thomas L. James and others, from an interlocutory judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of New York on the 30th day of June, 1903, upon the decision of the court, rendered after a trial at- the New York Special Term, overruling the defendants’ joint demurrer to the plaintiff’s amended complaint.
Read the full summary
Appeal by the defendants, Thomas L. James and others, from an interlocutory judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of New York on the 30th day of June, 1903, upon the decision of the court, rendered after a trial at- the New York Special Term, overruling the defendants’ joint demurrer to the plaintiff’s amended complaint. The action was brought by the plaintiff, a stockholder of the Anglo-American Savings and Loan Association of- New York, which is insolvent and has passed into the hands of receivers, against the directors of…
1Opinion of the Court
O’Brien, J.:
As correctly summarized by the learned judge at Special Term (41 Misc. Rep. 148): “ Upon the appeal from the judgment sustaining the demurrer to the former complaint the Appellate Division found the complaint insufficient only because of the order of June 29,1901, whereby the receivers were instructed to release the defendants, who had been directors of the Anglo-American Savings & Loan Association, from all liability by reason of their alleged wrongful an d negligent acts. That order and release were deemed to constitute an effective bar to an action by a stockholder because any…
2Cases cited3 opinions
- Hackley v. . DraperNew York Court of Appeals · 1875
- Craig v. JamesAppellate Division of the Supreme Court of the State of New York · 1902
- Craig v. JamesNew York Supreme Court · 1903