Ware v. Bazemore
Ware v. Bazemore
Opinion of the Court
This was a bill filed by the complainants against the defendants, with a prayer for an injunction on the allegations contained therein, which the chancellor, after considering-the same, together with the several affidavits filed by the respective parties, granted; whereupon the defendants excepted.
It appears from the record that Duncan, Sherman & Co. held a mortgage fi. fa. upon the property of “ The Planters’ Warehouse Company” — a corporation in the city of Macon- — for the sum of $20,420.57; that on the 25th of July, 1870, Duncan, Sherman & Go. transferred said mortgage fi. fa. to several persons therein named, each party paying the amount affixed to his name, some more, and some less than others, but, in the aggregate, being the
If there is less due on the fi. fa. than the property sold for (to-wit: $19,000.00), the transferees have not been injured, and there is no reason why the sheriff should be enjoined from perfecting the sale of the property, or that the sale should be set aside as prayed for, so far as the transferees of the fi. fa. are concerned. But, on the other hand, if there is a larger amount due on the fi. fa. than the property sold for, and the price of the property was depre
The complainants, as stockholders in the company, had no standing in court, inasmuch as there is no allegation in complainants’ bill that the corporation had been requested to act in its corporate name in behalf of its stockholders, and had refused to do so — the general rule being, that the stockholders in a company must sue in the name of the corporation — Colquitt et al. vs. Howard, 11 Ga. Rep., 556; Atlanta vs. Grant, Alexander & Co. — 57 Ga. R., 340.
The main ground of equity in the complainants’ bill is, that, as creditors of the Planters’ Warehouse Company, they have been injured by the sale of the property of that company, as alleged therein. Whether they have been so injured, and to what extent, the evidence in the record is conflicting, and, according to the repeated rulings of this court, we will not interfere to control the discretion of the chancellor in granting the injunction prayed for until the final hearing of the cause upon its merits.
Let the judgment of the court below be affirmed.
Reference
- Full Case Name
- Mims S. Ware, , in error v. Richard Bazemore, administrator, in error
- Cited By
- 2 cases
- Status
- Published