Croft Lumber Co. v. Bond

Supreme Court of Maryland
Croft Lumber Co. v. Bond, 119 Md. 687 (Md. 1913)
Stockbridge

Croft Lumber Co. v. Bond

Opinion of the Court

A bill was filed against a director of a. corporation, alleging that while such director and acting as its agent in the purchase of certain lands, he had received a portion of the commissions from the vendor; the bill was filed to recover the commissions, and to enjoin him from transferring certain notes, etc.; on appeal from an order dismissing the bill, it was held that sufficient evidence to sustain the bill had not been adduced.

Stockbridge, J.,

delivered the opinion of the Court.

Reference

Full Case Name
CROFT LUMBER COMPANY v. NINIAN U. BOND
Status
Published
Syllabus
Directors of Corporations; fiduciary relations; directors acting as purchase agents. Where a director of a corporation acts as its agent in purchasing real estate, and directly or indirectly, receives a share in the commissions for such sales, he is accountable to the corporation therefor.