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.
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.