 Courts of equity will not interfere in the management of the directors unless it is clearly made to appear that they are guilty of fraud or misappropriation of the corporate funds, or refuse to declare a dividend when the corporation has a surplus of...  Michigan Reports: Cases Decided in the Supreme Court of Michigan - Page 71by Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - 1891Full view - About this book
 | Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - Law reports, digests, etc - 1919 - 800 pages
...of the earnings of the corporation, and to determine its amount. 5 Am. & Eng. Enc. Law [1st Ed.], p. 725. Courts of equity will not interfere in the management...they are bound to exercise towards the stockholders." In 2 Cook on Corporations (7th Ed.), § 545, it is expressed as follows: "The board of directors declare... | |
 | Law reports, digests, etc - 1891 - 1280 pages
...corporation has a surplus of net profits which it can without detriment to its business divide among ita stockholders, and when a refusal to do so would amount...-they are bound to exercise towards the stockholders. MORSB and CAHTLL, JJ., dissenting. Case made from circuit court, St. Joseph county, In chancery. The... | |
 | Thomas Carl Spelling - Corporation law - 1892 - 736 pages
...which it can without detriment to its business divide among its stockholders, and when a refusaKto do so would amount to such an abuse of discretion...of that good faith which they are bound to exercise toward the stockholders." court of equity will interfere to compel the company to declare a dividend.1... | |
 | Albert Poole Jacobs, Henry Allen Chaney - Law reports, digests, etc - 1894 - 912 pages
...Equity will not interfere in the management by the directors of a corporation unless it clearly appears that they are guilty of fraud or misappropriation...they are bound to exercise towards the stockholders : Hunter v. Roberts, 83 M. 63 74. Even though a corporation has done and is doing a prosperous business,... | |
 | Seymour Dwight Thompson - Corporation law - 1895 - 1136 pages
...prevent manifest injustice.1 In a recent case in Michigan the doctrine is thus stated by Clmmplin, CJ : " Courts of equity will not interfere in the management...they are bound to exercise towards the stockholders." 2 Applying this doctrine, it has been held that, although a manufacturing corporation had done a prosperous... | |
 | Michigan - Corporation law - 1909 - 44 pages
...not interfere ln the management by the directors of the affairs of a corporation unless it is cleariy made to appear that they are guilty of fraud or misappropriation...they are bound to exercise towards the stockholders. — Hunter v. Roberts, Throp & Co., 83 / 03. SEC. 5. If an election of directors in any such corporation... | |
 | Michigan - Corporation law - 1920 - 36 pages
...stockholders, and when a refusal to do so would amount to such an abuse of discretion as would constituí« a fraud, or breach of that good faith which they are bound to exercise towards the stockholders. — Hunter v. Roberts, Throp & Co., 83 / 63. The statutory requirement that a majority of the «liares... | |
 | Michigan - Corporation law - 1913 - 48 pages
...detriment to its business, divide among its stockholders, and when a refusal to do so would amount to sueli an abuse of discretion as would constitute a fraud,...they are bound to exercise towards the stockholders. — Hunter v. Roberts, Throp & Co., 83 / 63. SEC. 5. If an election of directors in any such corporation... | |
 | Michigan - Corporation law - 1915 - 48 pages
...Courts of equity will not Interfere in the management by the directors of the affairs of a corporation unless it is clearly made to appear that they are...they are bound to exercise towards the stockholders. — Hunter v. Roberts, Throp & Co., 83 / 63. The statutory requirement that a majority of the shares... | |
 | Thomas Conyngton - Corporation law - 1917 - 822 pages
...illegitimate purposes, a court of equity may interfere and compel a distribution of such earnings." 12 "Courts of equity will not interfere in the management...they are bound to exercise towards the stockholders." " Cases sometimes arise, however, where a refusal to declare dividends, even where apparently reasonable... | |
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