McNair v. Darragh’s Empirical Analysis

Citation profile

6 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 8 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “It states that the executors, administrators, guardians, or trustees shall not be personally subject to the stockholder liability for stock belonging to the estate. Also, the section states that the estates and funds in their hands shall be liable. It states the extent of the liability of such funds to be the same as the `person interested in such trust funds would be, if living and competent to act and hold the stock in his own name.' `If living,' as thus used, refers, of course, to where the stock was owned by a deceased person whose estate is in course of administration and refers back to `executors, administrators,' `competent to act and hold the stock in his own name,' clearly primarily carries the thought of guardianship or trusteeship, and specifically covers the point of incompetency. As the only reason suggested here by appellant why appellee should be held personally liable, is the incompetency of the minors, under the trust, and as section 66 specifically covers trusts, declares trustees not personally liable, and declares the trust estate liable to the extent that the beneficiary would be `if . . . competent to act and hold the stock in his own name,' we think the section exactly fits this situation. It is one kind of the situations which the statute was enacted to cover. See Fowler v. Gowing , 165 F., 891 (C.C.A., 2).”

   1 later decision quote this exact passage · from the majority
   e.g. Hood Ex Rel. North Carolina Bank & Trust Co. v. North Carolina Bank & Trust Co.

2. “Persons holding stock as executors, administrators, guardians, or trustees shall not personally be subject to any liabilities as stockholders, but the estate and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in such trust fund would be if living and competent to hold stock in his own name.”

   1 later decision quote this exact passage · from the majority
   e.g. Hood Ex Rel. North Carolina Bank & Trust Co. v. North Carolina Bank & Trust Co.