Law Commons^™

Exchange Of Stock For Capitalized Profits, H. S. Richards

Michigan Law Review

The judgment of Vice Chancellor Pitney in the somewhat recent case of See v. Heppenheimer is of more than usual importance on account of the nature of the interests involved, and the advanced position taken on the perplexing question of watered stock. Extensive notes on the case have appeared in legal periodicals, yet it would seem, in view of the doctrines announced, that more extensive comment will be profitable. The particular case is one of a series of suits growing out of the failure of the so-called "Straw Board Trust." In this particular case, See, as receiver of the Columbia …