Enterprise Sheet Metal Works v. Schendel
Montana Supreme Court
Appeal from District Court, Yellowstone County; A, C. Spencer, Judge. Action by the Enterprise Sheet Metal Works against Robert E. Schendel. From a judgment for plaintiff and an order denying a new trial, defendant appeals. One who signs, as defendant did, a subscription paper by which he agrees to take stock in a corporation thereafter to be formed, may withdraw his subscription at any time before the corporation is formed.
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Appeal from District Court, Yellowstone County; A, C. Spencer, Judge. Action by the Enterprise Sheet Metal Works against Robert E. Schendel. From a judgment for plaintiff and an order denying a new trial, defendant appeals. One who signs, as defendant did, a subscription paper by which he agrees to take stock in a corporation thereafter to be formed, may withdraw his subscription at any time before the corporation is formed. So-called subscriptions to the capital stock of a corporation not yet formed are merely offers to subscribe. (Deschamps v. Loiselle, 50 Mont. 565, 148 Pac. 335, 337;…
1Opinion of the CourtChief Justice Brantlt
Action to recover of the defendant $1,000, the par value of ten shares of its capital stock upon a subscription contract therefor. The complaint alleges: That on or about May 28, 1913, the defendant and other persons agreed to form a corporation to conduct a sheet metal business, and for that purpose signed the following agreement:
“We, the undersigned, in consideration of the mutual promises herein contained do hereby severally subscribe for the number of shares of the capital stock of the Enterprise Sheet Metal Works, a corporation proposed to be organized under the laws of the state,of…
2Cases cited6 opinions
- Livesey v. Omaha Hotel Co.Nebraska Supreme Court · 1876
- San Bernardino Investment Co. v. MerrillCalifornia Supreme Court · 1895
- Morgan v. LandstreetCourt of Appeals of Maryland · 1909
- Anvil Mining Co. v. ShermanWisconsin Supreme Court · 1889
- Ivanhoff v. TealeMontana Supreme Court · 1913
1 more not listed; retrieve them via the Exa API.
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- Griffith v. Montana Wheat Growers' Ass'nMontana Supreme Court · 1926
- Merchants Credit Service, Inc. v. Chouteau County BankMontana Supreme Court · 1941
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