Mitchell Gardens Corp. v. Third B N Assoc

2 Citing cases

  1. Fountainview Association, Inc. #4 v. Bell

    214 So. 2d 609 (Fla. 1968)   Cited 11 times
    Holding that public policy requires that in the management of corporate affairs a corporate officer serve first the corporate interests and not his own

    See particularly, Old Dominion Copper Mining and Smelting Co. v. Bigelow, 203 Mass. 159, 89 N.E. 193, 40 L.R.A., N.S., 314, affirmed 225 U.S. 111, 32 S.Ct. 641, 56 L.Ed. 1009. See also Northridge Cooperative Section One v. Thirty Second Avenue Construction Corp., 2 N.Y.2d 514, 161 N.Y.S.2d 404, 141 N.E.2d 802, and Mitchell Gardens No. Three Cooperative Corp. v. Third B.N. Associates, Inc., 5 Misc.2d 454, 162 N.Y.S.2d 152. Because of the nature of condominium projects and their operation and administration under our laws, the defendants as corporate officers from the time they became such assumed a trust or fiduciary relationship with the prospective subscribers or members of the condominium corporate associations to exercise good faith.

  2. Fountainview Ass'n, Inc. v. Bell

    203 So. 2d 657 (Fla. Dist. Ct. App. 1967)   Cited 10 times

    The plaintiff associations contend that: they have a right to recover of and from the individual defendants any unconscionable profit which they may have made on the sale of the land and construction of the improvements thereon, or lease of the land to the associations; and relief from any excessive fees that they may be obligated to pay on the management contracts. They contend that at the time the defendants negotiated said transactions they were officers of the associations and fiduciaries for all prospective members, citing Old Dominion Copper Mining and Smelting Co. v. Bigelow, 203 Mass. 159, 89 N.E. 193; Northridge Cooperative Section One v. Thirty-Second Avenue Construction Corp., 2 N.Y.2d 514, 161 N.Y.S.2d 404, 141 N.E.2d 802; Mitchell Gardens No. Three Cooperative Corp. v. Third B.N. Associates, Inc., 5 Misc.2d 454, 162 N.Y.S.2d 152; Shore Terrace Cooperative, Inc. v. Roche, 25 A.D.2d 666, 268 N.Y.S.2d 278. The instant action only involves an attempt by the associations to recoup.