Thompson v. Prince

ALEXANDER, Justice.

W. D. Prince, as receiver of Lloyds of Texas, an insurance exchange organized on the Lloyd’s plan under Chapter 19, Title 78, of the Revised Civil Statutes of Texas, Vernon’s Ann.Civ.St. art. 5013 et séq., filed this suit against Eugene Thompson and Claude Thompson, two of the underwriters of the exchange, to recover their share of the unpaid liabilities for losses incurred by the exchange and the expenses of receivership. A trial before the court resulted in judgment for plaintiff. The defendants appealed.

The record discloses that defendants had jointly subscribed for…