Joy v. Jackson & Michigan Plank Road Co.
Michigan Supreme Court
Appeal in Chancery from. Jackson Circuit. The Jackson and Michigan Plank Road Company was incorporated April 3, 1848, for the purpose of constructing a plank road from Jackson to Michigan, now Lansiüg.
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Appeal in Chancery from. Jackson Circuit. The Jackson and Michigan Plank Road Company was incorporated April 3, 1848, for the purpose of constructing a plank road from Jackson to Michigan, now Lansiüg. On September 1, 1851, this company, for the purpose of providing means for the construction and completion of their road, buildings and equipments, in pursuance of an act of the Legislature supplementary to their act of incorporation, approved April 3, 1851, and which had been accepted by a vote of the' directors, and in pursuance of another vote of the directors, with the approval of a…
1Opinion of the Court
Christiancy J.:
We are all agreed that the obligors in the collateral bond were improperly made parties defendant, and that the bill, as to them, must be dismissed with costs against the complainants.
It is admitted that, but for the statute — Comp. L. §3567 — they could not be joined in a foreclosure bill upon this mortgage. We do not think the statute can be fairly construed as extending to an undertaking like the present, which is not for the payment of the debt or any part of it, but entirely collateral — that the company should (among other collateral matters) provide a sinking fund equal…
2Cases cited8 opinions
- Gordon v. PrestonSupreme Court of Pennsylvania · 1833
- Allen v. Montgomery Rail RoadSupreme Court of Alabama · 1847
- Bowman v. WathenDistrict Court, D. Indiana · 1841
- Mobile & Cedar Point R. R. v. Talman & RalstonsSupreme Court of Alabama · 1849
- People v. Jackson & Michigan Plank Road Co.Michigan Supreme Court · 1861
3 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Detroit Citizens' Street-Railway Co. v. Common Council of DetroitMichigan Supreme Court · 1901
- Perkins v. CoffinSupreme Court of Connecticut · 1911
- State ex rel. Godard v. Topeka Water Co.Supreme Court of Kansas · 1900
- Michigan Telephone Co. v. City of St. JosephMichigan Supreme Court · 1899
- Mower v. StaplesSupreme Court of Minnesota · 1884
6 more not listed; retrieve them via the Exa API.