Lee v. Steinhart Lumber Co.

Citations

• 66 Wash. 572
• 119 P. 1117
• 1912 Wash. LEXIS 808

Syllabus

<p>Corporations — Representation — Action by Stockholder — Accounting. A minority stockholder may maintain an action for an accounting on behalf of the corporation against a stockholder and officer where the majority of the stockholders and of the trustees do not desire an accounting and refuse to act.</p> <p>Same — Right to Accounting — Defenses—Refusal. The fact that a corporation stockholder and officer gave expert accountants assistance after the books had been obtained by legal process, does not show that he never refused an accounting, or defeat the right thereto, where it appears that he did not acknowledge the correctness of the experts’ statement or admit any liability thereon.</p> <p>Same — Organization—Payment of Partnership Debts — Evidence • — Sufficiency. Findings to the effect that, on the formation of a corporation, by three stockholders, all the debts of a former co-partnership existing between two of them were not agreed to be paid by the new concern, are sustained, where of the three, two interested witnesses testified that only certain specified debts were included, one of them testifying against his own interest.</p>