Detroit Trust Co. v. Drummond

The sole question involved in this appeal is whether defendant Drummond transferred 40 shares of Guaranty Trust Company stock with the fraudulent intent of avoiding- his statutory liability as a stockholder. Defendant Kate S. Weber, transferee of these and other shares, did not appeal from the decree in which she was ordered to pay the assessment.

The general factual background of this case is the same as that stated in Detroit Trust Co. v. Allinger, 271 Mich. 600 (appeal dismissed, Gause v. Detroit Trust Co., 297 U. S. 695 [56 Sup. Ct. 572]), and in the more recent cases of Detroit Trust Co.…