Hornor v. Henning’s Empirical Analysis

Citation profile

13 federal appellate · 12 district · 43 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 101 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““If the indebtedness of any company organized under this act shall at any time exceed the amount of its capital stock the trustees of such company assenting thereto shall be personally and individually liable for such excess to the creditors of the company.””

   5 later decisions quote this exact passage
   e.g. James H. Rice Co. v. Libbey · Boyd v. Schneider

2. ““ The remedy for this violation of duty as trustees is in its nature appropriate lo a court of chancery. The powers and instrumentalities of that court enable it to ascertain the excess of the indebtedness over the capital stock; tin amount of this which each trustee may have assented to, and the extent to which the funds of the corporation may be resorted to for the payment of the debts; also the number and names of the creditors; the amount of their several debts; to determine the sum to be recovered of the trustees, and apportioned among the creditors, in a manner which the trial by jury and the rigid rules of common-law proceedings render impossible. This course avoids the injustice of many suits against defendants for the same liability, and the greater injustice of pernjitting one creditor to absorb all or a very unequal portion of the sum for which the trustees are liable, and it adjusts the rights of all concerned on the equitable principles which lie at the foundation of the statute.””

   1 later decision quote this exact passage · from the majority
   e.g. Welles v. Graves

3. ““Nor can we believe that an action, intended for the benefit of the creditors generally, when, the bank proves insolvent, can be justly construed in such a manner that any one creditor can appropriate the whole or any part of this liability of the trustees to his own benefit, to the possible exclusion of all or any part of the creditors, but such may, and probably would often be the result, if any one creditor could sue alone, while there were others unsecured. We are of opinion that the fair and reasonable construction is ^ * that this liability constitutes a fund for the benefit of all the creditors who are entitled to share in it in proportion to the amount of their debts, so far as may be necessary to pay these debts. * * * This course avoids the injustice of many suits against defendants for the same liability and the greater injustice of permitting one creditor to absorb all or a very unequal portion of the sums for which the trustees are liable. ’ ’”

   1 later decision quote this exact passage · from the majority
   e.g. Webb v. Cash