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Bills And Notes-Indorsements-Liability Of Collecting Bank To Drawer For Payment On Forged Indorsement, Richard Darger
Bills And Notes-Indorsements-Liability Of Collecting Bank To Drawer For Payment On Forged Indorsement, Richard Darger
Michigan Law Review
Plaintiff was the drawer of a series of checks which were signed by, an authorized agent because of the fraudulent representation of one of its employees. These checks were never delivered to the payees but were cashed by defendant bank for the guilty employee upon indorsements forged by him. Defendant indorsed the checks and collected thereon from the drawee bank which, in turn, charged the checks to plaintiff's account. Plaintiff discovered the fraud after the statute of limitations had run on any action by plaintiff against the drawee bank. Plaintiff brought this action seeking recovery on the basis of (1) …
Corporations--Stockholders' Rights--Majority Discretion As Bar To Derivative Suit, Richard Darger
Corporations--Stockholders' Rights--Majority Discretion As Bar To Derivative Suit, Richard Darger
Michigan Law Review
Plaintiffs, minority stockholders of defendant corporation, brought an equitable action against certain directors thereof alleging the following wrongs: profits made by purchasing the corporation's notes at a discount; carrying out a plan to gain stock control; settlement of anti-trust suits out of court; excessive compensation of directors under management contracts alleged to violate anti-trust laws; paying excessive film rentals to another corporation. Plaintiffs unsuccessfully demanded that the board bring action against the directors on these grounds and then make a like demand at a stockholders' meeting. The stockholders voted not to sue, approved all actions alleged to be wrongs and …
Corporations--Stockholders' Rights--Majority Discretion As Bar To Derivative Suit, Richard Darger
Corporations--Stockholders' Rights--Majority Discretion As Bar To Derivative Suit, Richard Darger
Michigan Law Review
Plaintiffs, minority stockholders of defendant corporation, brought an equitable action against certain directors thereof alleging the following wrongs: profits made by purchasing the corporation's notes at a discount; carrying out a plan to gain stock control; settlement of anti-trust suits out of court; excessive compensation of directors under management contracts alleged to violate anti-trust laws; paying excessive film rentals to another corporation. Plaintiffs unsuccessfully demanded that the board bring action against the directors on these grounds and then make a like demand at a stockholders' meeting. The stockholders voted not to sue, approved all actions alleged to be wrongs and …