CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


DELAWARE & HUDSON CO. V. ALBANY & SUSQUEHANNA R. CO., 213 U. S. 435 (1909)

Subscribe to Cases that cite 213 U. S. 435 RSS feed for this section

U.S. Supreme Court

Delaware & Hudson Co. v. Albany & Susquehanna R. Co., 213 U.S. 435 (1909)

Delaware and Hudson Co. v. Albany

and Susquehanna Railroad Company

No. 416

Argued February 23, 24, 1909

Decided May 3, 1909

213 U.S. 435

Syllabus

Equity Rule No. 94, which is intended to secure the federal courts from imposition upon their jurisdiction, recognizes the right of the corporate directory to corporate control, and expresses primarily the conditions which must precede the right of the stockholders to protect the corporation in cases where the directory is derelict; but the requirements of the rule may be dispensed with where they do not apply by reason of antagonism between the directory and the corporate interest.

Equity Rule No. 94 is intended to have a practical application, and it does not apply where the corporate interests can only be protected by a suit which, if successful, would be detrimental to all the directors in other capacities.

Where, as in this case, stockholders of a lessor corporation sued, for its benefit, the lessee corporation, the directors of the two corporations being almost identical and the lessee corporation also owning, or chanroblesvirtualawlibrary

Page 213 U. S. 436

holding the voting power, of sufficient stock of the lessee corporation to control a stockholders' meeting, the fact that the stockholder bringing the suit made no demand for relief upon the board of director nor any effort to obtain relief at a stockholders' meeting does not prevent them from maintaining the bill.

Quaere, and not decided, whether stockholders have power to compel directors to institute suits to which the latter are opposed.

The facts, and the questions certified, are stated in the opinion. chanroblesvirtualawlibrary

Page 213 U. S. 442





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED