Dallas v. Columbia Iron & Steel Co.

Citations

• 158 Pa. 444
• 27 A. 1055
• 1893 Pa. LEXIS 1610

Syllabus

<p>Contract — Corporations — Agreement with creditors — Compensation for superintendence — Joint action.</p> <p>The creditors of a corporation agreed to grant an extension of time under a written agreement which contained the following clause: “ That the corporation be, during the said period of five years, operated under the direction and management of a committee of three practical iron and steel men, to be selected by the creditors, whose duty it shall be to see that the plant is run in a proper manner, and that the machinery and trade thereof shall be kept up in good, healthy condition, to steadily make money.” The agreement was signed by the name of the corporation. Held, that the three members of the committee of superintendence had a right to recover from the corporation in a joint action compensation for their services.</p>