View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

The ease of 8mrly» Rooolvor, T . Rlohardson,
280 U«S # 49$> did not involve a holding ooapany. Instead*
it involTed the liability of a feroem on national bank
stock whieh ho in good faith had transferred to his
children as a gift, the court holding that ho
liable since the children were without legal capaolty to
assuae the obligation and the transfer having resulted
to their disadvantage would bo avoided for them by the