Shanklin v. Gray

Citations

• 111 Cal. 88
• 43 P. 399
• 1896 Cal. LEXIS 549

Syllabus

<p>Mining Coreokations—Monthly Statements—Liability oe Directors. Under the act of March 23, 1880, the directors o£ a mining company formed under the laws of this state, who, in good faith, on the first Monday in the month, make and post in the office of the company, a verified itemized account or balance sheet in attempted compliance with the requirements of the statute in that regard, are not liable for the penalty imposed by that act merely because the account covers a longer period than the preceding month.</p> <p>Id.—Statements or Suterintbndent—Verieication-—Penalty. —Under section 1 of that act, the monthly accounts and weekly statements required to be filed by the superintendent must be verified by him; if unverified the directors are not relieved from the penalty imposed by the act, either by the fact that the accounts and statements were in fact true, or because it would have been a great inconvenience for the superintendent to go a long distance to an officer competent to administer oaths, or because they had been advised by counsel that a verification was unnecessary.</p> <p>Id.—Constbuction of Statute—Damages.—Such statute is intended for the benefit of stockholders in mining corporations, and its violation necessarily implies an injury; and in an action by a stockholder under the statute, no actual damage need be shown.</p> <p>Id.—Pendency of Pbiob Action—Past Delinquency.—Under such statute, neither the recovery of judgment nor the pendency of an action for a past delinquency is a bar to a subsequent action for a delinquency occurring after the commencement of the prior action.</p>