Randall v. Bailey’s Empirical Analysis
1942
Citation profile
19 federal appellate · 2 district · 29 state decisions
How this case has been cited
Cited by 60 later decisions — most recently November 2004 · most notably First Industrial Loan Co. v. Daugherty (1945), Mountain State Steel Foundries, Inc. v. Commissioner (1960)
19 federal appellate · 2 district · 29 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 Edwards v. Douglas · La Belle Iron Works v. United States · Williams v. . Western Union Telegraph Co. · Small v. Sullivan · Moore v. . Mausert
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 60 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
““No stock corporation shall declare or pay any dividend which shall impair its capital, nor while its capital is impaired, nor shall any such corporation declare or pay any dividend or make any distribution of assets to any of its stockholders, whether upon a reduction of the number of par value of its shares or of its capital, unless the value of its assets remaining after the payment of such dividend, or after such distribution of assets, as the case may be, shall be at least equal to the aggregate amount of its debts and liabilities, including capital. In case any such dividend shall be paid, or any such distribution of assets made, the directors in whose administration the same shall have been declared or made, except those (1) who may have caused their dissent therefrom to be entered upon the minutes of the meetings of directors at the time or (2) who having been absent when such action was taken may have communicated in writing their dissent to the secretary or caused their dissent to be entered on the minutes within a reasonable time after learning of such action, or (3) who affirmatively show that they had reasonable grounds to believe and did believe, that such dividend or distribution would not impair the capital of such corporation, shall be liable jointly and severally to such corporation and to the creditors thereof to the full amount of any loss sustained by such corporation or by its creditors respectively by reason of such dividend or distribution.” As amended”
1 later decision quote this exact passage““They must mean that no dividend may be declared or paid which shall impair capital or capital stock nor unless the value of the corporate assets ‘remaining after the payment of such dividend, or after such distribution of assets, as the case may be, shall be at least equal to the aggregate amount of its debts and liabilities including capital or capital stock as the case may be.’ ””
1 later decision quote this exact passage“* * * Surplus has been well defined as follows in Edwards v. Douglas , 269 U.S. 204 , 214 * * * Brandeis J.: '* * * The surplus account represents the net assets of a corporation in excess of all liabilities including its capital stock. This surplus may be”
1 later decision quote this exact passage
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.