[Download] "Snyder v. Freeman" by Supreme Court of North Carolina No. 26 ~ Book PDF Kindle ePub Free

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eBook details

Title: Snyder v. Freeman
Author : Supreme Court of North Carolina No. 26
Release Date : January 03, 1980
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 65 KB

Description

This is an action against the shareholders, officers and directors of General Aviation, Inc., in their individual capacities for breach of an agreement to which only they, individually, are signatories. That part of the agreement relied on provides for the earmarking for the benefit of plaintiff as creditor of the corporation some of the proceeds of the sale of capital stock of General Aviation pursuant to other provisions in the agreement. The question presented is whether defendants can be liable to plaintiff in their individual capacities when the funds so earmarked for the plaintiff's benefit have not been paid to her but have, apparently, been used for other corporate purposes. The Court of Appeals concluded that they could not and, therefore, the complaint failed to state a claim upon which relief could be granted. We disagree and reverse.