25 La. Ann. 435 | La. | 1873
The plaintiffs, in their capacity of liquidators of the Firemen’s Insurance Company, sue the defendants as stockholders
The defendants answer by general denial. The plaintiffs had judgment in their favor and the defendants have appealed.
We see no reasons for disturbing the judgment. The transfer complained of seems to have been regularly made upon the books of the company in the usual form of such transactions. Schnegans was recognized by the directors of the company as a stockholder, and by their consent became the trausferree of the stock held by Schneider. This consent, if not obtained from the directors in a formal convocation of the board, yet the assent of a .majority of the directors appears to have been given, and in the manner that transfers of stock were frequently made.
It is therefore ordered that the judgment of the District Court be annulled, avoided and reversed; it is further ordered that there be judgment in favor of the defendants, the plaintiffs paying costs in both court.
Rehearing refused.