Massachusetts Reports : Cases Argued And Determined in the Supreme Judicial Court of Massachusetts 146

Cover Massachusetts Reports : Cases Argued And Determined in the Supreme Judicial Court of Massachusetts 146
Massachusetts Reports : Cases Argued And Determined in the Supreme Judicial Court of Massachusetts 146
Massachusetts. Supreme Judicial Court
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Adams^ 189 Mass. 449.
The widow as distribatee of the personal property is entitled to one half the trust fund, and the sister and niece respectively to one quarter. Insti^uctions accordingly.
Digitized by VjOOQIC HOLT V. BBKNETT. 437 Edward B. Holt vs. Joseph Bennett & others.
Suffolk. Jannary 16, 1888. — March 7, 1888.
Present: Morton, C. J.» Drvens, C. Allen, Holmes, & Knowlton, JJ.
Corporation — Creditor — Payments to Directors — Fraud.
Payments made by a corporation, intending in good fait
...h to go on and develop yaluable patents owned by it, to its directors of money borrowed from them in the ordinary course of business, are not recoverable from such directors by a creditor of the corporation whose debt at the time was not due and payable.
Devens, J. This is a bill in equity, in wbicb a creditor of a corporation, tbe Purifying and Maturing Process Company, seeks to bave a certain mortgage made by it declared fraudulent, and tbe individual defendants, wbo were its directors, and two of wbom were also creditors, decreed to pay tbe debt owing to tbe plaintiff.


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