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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 451   View pdf image (33K)
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WILLIAMS VS. THE SAVAGE MANUFACTURING CO. 451
accounts upon which it was founded should, in the particulars
specified, be investigated. But it was not intended by the
order to place the stock, by which the claim was paid, beyond
the reach of recall, if in the further progress of the cause a
decree to that effect should be necessary to meet the justice of
the case. If the settlement had been overthrown entirely, a
general account would have been ordered, wholly irrespective
of it, and every item on both sides of the account would have
been exposed to investigation, and required to be sustained by
proof. But this was not done. It was the opinion of the
Court, that the settlement was not procured by fraud; but
that, in certain respects, the accounts upon which it was based
were erroneous, and therefore, that though the settlement
should stand, in so far as it was not impeached, the plaintiff
might show it to be wrong in the particulars and to the extent
specified in the opinion of the Court.
In the argument of this cause in the Court of Appeals, upon
an appeal from the order of November, 1848, the counsel for
the complainant appear, by a statement of their points with
which I have been furnished, to have objected to that part of
the order which declared " the settlement should stand and be
established," and to have insisted that the settlement should
have been annulled and an immediate re-transfer of the stock
decreed. And this, it is argued, shows that in the opinion of
the complainant's counsel the order settled the question in
regard to the stock. Such, however, is not my view of the
point; but conceding the counsel may so have understood the
order, it certainly cannot be insisted that the Court is bound
by such interpretation of it.
In passing the order referred to, this Court did not intend
to adjudicate the question now presented. It was not the de-
sign of that order to pass upon the form and character of the
final decree, which should be passed in the cause when the ac-
counts between the parties should be taken. And I shall now,
therefore, very briefly state my views upon this question.
Cases have been cited to show, that if the shares of an in-
corporated company are transferred to the corporation, they

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 3, Page 451   View pdf image (33K)
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