Grant v. Parker

Citations

• 115 U.S. 51
• 5 S. Ct. 1170
• 29 L. Ed. 346
• 1885 U.S. LEXIS 1813

Syllabus

<p>A syndicate, of which A and B were members, was formed to purchase a mine, and it was agreed before the purchase, as a condition of A’s subscription, that he should “ control the management of the mine.” After the purchase a board of directors was organized, of which A & B were members. At a meeting of the Board, of which A had notice, resolutions were passed at the instigation ol>B prohibiting the treasurer from paying cheeks not signed by the president and vice-president, and countersigned by the secretary ; directing that all orders for supplies and materials from San Francisco should be made through the head officer there; authorizing the vice-president in the absence of the president, to sign certificates of stock and other papers requiring the president’s signature ; and authorizing the superintendent of the mine, in the absence from the mine of the president, to draw on the com - pany at San Francisco for indebtedness accruing at the mine : Held, That these resolutions were not inconsistent with the control of the mine by A.</p>