Black v. . Ellis
New York Court of Appeals
Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered December 17, 1908, affirming a judgment in favor of defendant entered upon a dismissal of the complaint by the court on trial at Special Term.
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Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered December 17, 1908, affirming a judgment in favor of defendant entered upon a dismissal of the complaint by the court on trial at Special Term. This action was brought by the receiver of a domestic corporation known as the Sterling Hotel Company, to set aside a chattel mortgage given by the latter upon the ground, among others, that two-thirds of the stockholders had not consented thereto as required by statute. The action was tried at Special Term and the court found the following…
1Opinion of the CourtVann, J.
The main question presented by this appeal depends on section two of the Stock Corporation Law, as in force on the 20th of March, 1907, the date when the chattel mortgage in question was executed and delivered. That section, after authorizing a stock corporation to borrow money and contract debts when necessary for the transaction of its business, provided that “ Every such mortgage, except purchase-money mortgages * * * shall be consented to by the holders of not less than two-thirds of the capital stock of the corporation, which consent shall be given either in writing or by vote at a…
2Cases cited4 opinions
- Hale v. . Omaha National BankNew York Court of Appeals · 1872
- Wisner v. . OcumpaughNew York Court of Appeals · 1877
- Black v. EllisAppellate Division of the Supreme Court of the State of New York · 1908
- Coman v. . LakeyNew York Court of Appeals · 1880
3Cited by23 opinions
- Karasik v. People's Trust Co.District Court, E.D. New York · 1917
- Leffert v. . JackmanNew York Court of Appeals · 1919
- In re Post & Davis Co.Court of Appeals for the Second Circuit · 1914
- Gamaldi v. ColonCourt of Appeals for the Second Circuit · 1935
- American Trust Co. v. New York Credit Men's Adjustment Bureau, Inc.Court of Appeals for the Second Circuit · 1953
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