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BLANCHARD v. McCORD

40 So.2d 457 (1949)

BLANCHARD et al. v. McCORD et al.

Supreme Court of Florida, Special Division B.

Rehearing Denied May 30, 1949.

Attorney(s) appearing for the Case

Jackson L. Peters and Hall & Hedrick, all of Miami, for appellants.

Ward & Ward, E.F.P. Brigham and Thomas H. Anderson, all of Miami, for appellees.

HOBSON, Justice.

No novel question of law is presented by this appeal. The primary underlying premise of appellants is that "directors in a corporation cannot use the funds and other assets of the corporation to enhance their own personal fortune". They also contend the law is well settled to the effect that the directors of a corporation cannot engage on their own account in the same business which is transacted by the corporation and if they do so the fruits of...

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