American Spirits Meg. Co. v. Easton

Citations

• 120 F. 440
• 1903 U.S. App. LEXIS 5284

Syllabus

<p>1. Corporations — Acts of Directors — Individual Profits — Actions — Parties — Pleading.</p> <p>Where, in an action by a corporation to recover profits alleged to have been illegally made by a director, since deceased, it was alleged that such director, with consent of his partner, had acted as complainant’s agent in the purchase of cereals,,and received therefor a salary, but, in violation of his trust, such director had charged profits on the cereals over the price paid, but there was no allegation that the director’s estate was inadequate to meet complainant’s demand, the partner was not a proper party, and the bill stated no cause of action as against him.</p> <p>2. Same — Principal and Agent.</p> <p>A bill in equity to recover profits alleged to have been made by a director of a corporation, charging that such director had been employed on a salary to purchase cereals for the corporation, and that he had sold such cereals to the corporation at a. profit, could not be sustained on the theory that it was a bill to enforce a trust.</p> <p>8. Same — Accounting.</p> <p>A bill in equity to recover profits illegally made by decedent as complainant’s agent for the purchase of cereals could not be sustained on complainant’s allegation that it had no other mode of ascertaining the facts as to the items and parties from whom purchases were made than by a bill in equity, and on its offer to do equity, where there was no mutual, intricate, or complicated account, and the relief to which complainant would be entitled was of the same measure and bind as it might obtain at law.</p> <p>4. Same — Multiplicity op Items.</p> <p>In a suit against the personal representatives of an agent of a corporation to recover profits illegally received by the agent, where there was no charge in the bill that the agent’s boobs were fraudulently kept, and there was no allegation that any different evidence or information could be obtained in equity from that obtainable at law, the allegation