Schmidt v. Paul

Opinion by

Mr. Justice Allen M. Stearns,

The liquidating receiver of an insolvent corporation commenced this suit by a complaint in equity to recover the purchase price due on defendants’ subscriptions to corporate shares of stock. The learned court below accurately pointed out that the question “whether the burden of proof is upon the plaintiff or upon the defendants is all-important.” It ruled that, since the subscribers had failed to show the transfer of the consideration to the corporation was fair and that the property turned oyer to the corporation was valued in good faith, they had not…