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


COOMBES V. GETZ, 285 U. S. 434 (1932)

Subscribe to Cases that cite 285 U. S. 434 RSS feed for this section

U.S. Supreme Court

Coombes v. Getz, 285 U.S. 434 (1932)

Coombes v. Getz

No. 528

Argued March 21, 1932

Decided April 11, 1932

285 U.S. 434

Syllabus

1. Where the contract clause of the Federal Constitution is involved, this Court will determine for itself whether there be a contract the obligation of which is within the protection of that clause, and whether that obligation has been impaired, and, likewise, will determine for itself the meaning and application of state constitutional or statutory provisions said to create the contract or by which it is asserted an impairment has been effected. P. 285 U. S. 441.

2. One section of the California Constitution provided that directors of corporations should be liable to the creditors for all moneys embezzled or misappropriated by corporate officers. Another section reserved power to alter or repeal all existing or future laws concerning corporations. While creditors who contracted with a corporation, with these provisions in force, were suing to enforce their rights against a director for money misappropriated by the corporation's officers, the section making the director liable was repealed.

Held:

(1) The right to enforce the liability was part of the creditors' contracts, perfected and fully vested before the repeal, and was protected by the contract clause of the Constitution and by the due process clause of the Fourteenth Amendment. Pp. 285 U. S. 442, 285 U. S. 448.

(2) When the contracts were made, the Supreme Court of California had not decided that the repeal of a law creating such a contractual liability extinguishes the cause of action. P. 285 U. S. 445.

(3) The so-called reserved power of a state over corporations and their shareholders cannot be used to destroy the vested rights of third persons or to impair the obligations of their contracts. P. 285 U. S. 441.

213 Cal. 164, 1 P. 2d 992, 4 P. 2d 157, reversed.

Certiorari 284 U.S. 613, to review a decision dismiss ing an appeal in a suit to enforce a director's liability to creditors of a corporation. chanroblesvirtualawlibrary

Page 285 U. S. 439





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