Link v. McLeod

Citations

• 194 Pa. 566
• 45 A. 340
• 1900 Pa. LEXIS 441

Syllabus

<p>Statute of limitations — Directors of corporation — Illegal resolution.</p> <p>Where the directors of a corporation are charged with passing an illegal resolution authorizing the payment of the money of the company to the president, the statute of limitations begins to run in favor of the directors from the date of the resolution, and not from the time when the money was paid. The fact that the aggrieved creditor had no knowledge of the transaction, in the absence of fraudulent concealment by the directors, does not toll the statute.</p>