Jackman v. Newbold’s Empirical Analysis
28 F.2d 107 · 1928
Citation profile
9 federal appellate · 3 state decisions
How this case has been cited
Cited by 15 later decisions — most recently January 1991
9 federal appellate · 3 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Relies on Twin-Lick Oil Company v. Marbury · Christmas v. Russell · Washburn v. Green · Wabash St Ry Co v. Ham · Thomas v. Brownville, Fort Kearney, & Pacific Railroad
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 15 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
““However, where a corporation is insolvent in fact, or so nearly so that insolvency is practically certain, director creditors should not be permitted to appropriate the assets of the corporation to secure or pay a past indebtedness to the prejudice of other creditors. . . . “The law applicable to this situation is not difficult. It is merely common sense and common honesty, applied.in the interest of fair dealing. In the vigorous opinion of Judge Philips in Northwestern Mut. Life Ins. Co. v. Cotton Exchange Real Estate Co. (C. C.) 70 F. 155, 161 , he said: ‘A sound public policy, in my judgment, demands that when a business corporation has reached a point in its affairs when its directors know that it cannot pay its debts, and for the lack of sustenance, cannot longer do business, or cannot “act up to the design of its creation,” it is then, to all intents and purposes, insolvent. In such conjuncture its directors ought not to be permitted to take advantage of their position as managing officers to appropriate its remaining assets to the payment of their unsecured debts, to the exclusion of other unsecured creditors. Until overruled in this judgment, I shall continue to so administer the law.’ This court in Stuart v. Larson et al., 298 F. 223 , 38 A. L. R. 79, reviewed the authorities and indorsed this language of Judge Philips. . . . Appellant as to his unsecured loans should take his place with the other general creditors and receive his fair pro rata. To permit an arrange”
1 later decision quote this exact passage · from the majoritye.g. Clark v. Pargeter
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.