Hilliard v. Lyman’s Empirical Analysis

Citation profile

2 federal appellate · 1 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 3 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““There is no limit to liability upwards, but it extends as far as the assent goes, and no creditor would have any right to or interest in any recovery by another, as there would or might be if there was a limit to the amount that could be recovered by all. Each creditor must recover only upon the assent of each director to the indebtedness to him. in excess, and what is so recovered belongs to that creditor only, and there could be no marshaling between these more than between any creditors of a common debtor.””

   1 later decision quote this exact passage · from the majority
   e.g. Seegmiller v. Day

2. “■‘No debts shall be contracted by a corporation exceeding in amount two-thirds of the capital stock actually paid in; and a director assenting to the creation of an indebtedness exceeding such an amount becomes personally liable for the excess.””

   1 later decision quote this exact passage
   e.g. Lyman v. Hilliard

3. ““The liability for a debt must be a liability to the creditor, and the avails •of the liability would not be assets of the corporation.””

   1 later decision quote this exact passage · from the majority
   e.g. Seegmiller v. Day