Nature of the Case
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Facts
The Charlestown Boot & Shoe Co. (Ps) was a manufacturing corporation, with an objective of paying dividends, and organized in 1871. Dusnmore (D) was elected a director in 1871 and Willard in 1873 and have acted in this capacity until present day. On 12/10/1874, a committee (Osgood) was chosen to act with directors to close up the corporate affairs. Defendants refused to act together with the committee and contracted new debts larger than allowed by law. Through Ds' negligence, the corporation lost $2,161.23 in debts owed, $3,300.40 in disposition of the goods of the corporation and $20,000 from depreciation in the value of buildings and machinery which Ds negligently did not sell. Also, Ds neglected to insure a shop owned by the corporation, and the shop burned down. Due to that act, Ps lost $20,000.
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