William H. Darcy, Respondent v. the Brooklyn and New York Ferry Company, Defendant, and Joseph J. O’Donohue, Jr…

Summary

The New York Court of Appeals affirmed the judgment against the directors of the Brooklyn and New York Ferry Company, holding that their transfer of all corporate assets without giving creditors notice violated their statutory duties and made them liable for the creditor's claim. Fraud was not required; the violation of duty under section 1781 subdivision 2 was sufficient.