Grant v. Parker - 115 U.S. 51 (1885)
U.S. Supreme Court
Grant v. Parker, 115 U.S. 51 (1885)
Grant v. Parker
Argued April 23, 1985
Decided: May 4, 1985
115 U.S. 51
A syndicate, of which A and B were members, was formed to purchase a mine, and it was agreed before the purchase, as a condition of A's subscription, that he should "control the management of the mine." After the purchase, a board of directors was organized, of which A &, B were members. At a meeting of the Board, of which A had notice, resolutions were passed at the instigation of B prohibiting the treasurer from paying checks not signed by the president and vice-president, and countersigned by the secretary, directing that all orders for supplies and materials from San Francisco should be made through the head officer there, authorizing the vice-president in the absence of the president, to sign certificates of stock and other papers requiring the president's signature, and authorizing the superintendent of the mine, in the absence from the mine of the president, to draw on the company at San Francisco for indebtedness accruing at the mine, held that these resolutions were not inconsistent with the control of the mine by A.