Farrell v. Davis
Oregon Supreme Court
From Multnomah: Robert G. Morrow, Judge. Department 2. Statement by Mr. Justice Bean. This suit is brought by W. E. Farrell, as assignee of the Hygienic Mattress Company, against A. E. Davis, H. H. McCarthy, R. E. Norton, Ú. A. Emery and S. B. Hendee, to recover from them as stockholders in the insolvent Mattress Company for alleged unpaid stock subscriptions. From a decree against defendant A. E. Davis for the sum of $8,945.88, he appeals.
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From Multnomah: Robert G. Morrow, Judge. Department 2. Statement by Mr. Justice Bean. This suit is brought by W. E. Farrell, as assignee of the Hygienic Mattress Company, against A. E. Davis, H. H. McCarthy, R. E. Norton, Ú. A. Emery and S. B. Hendee, to recover from them as stockholders in the insolvent Mattress Company for alleged unpaid stock subscriptions. From a decree against defendant A. E. Davis for the sum of $8,945.88, he appeals. It is alleged in the complaint that defendants H. H. McCarthy and R. E. Norton are not within the jurisdiction of the courts of Oregon. The suit was…
1Opinion of the CourtJustice Bean
1. This suit was instituted in 1908. The theory of the complaint is that the $40,000 worth of stock issued in exchange for the contract with the Fibre Company was entirely without consideration, for the reason that the contract was not property within the meaning of Section 6696, L. O. L. The suit is defended upon the theory that the stock subscribed was fully paid up by the assignment in good faith to the Mattress Company of a valuable contract right which would be considered as property under the section of the statute referred to which provides as follows:
“All sales of stock, whether…
2Cases cited11 opinions
- Young v. Erie Iron Co.Michigan Supreme Court · 1887
- Bank of Fort Madison v. AldenSupreme Court of the United States · 1889
- Lea v. Iron Belt Mercantile Co.Supreme Court of Alabama · 1906
- Davies v. BallWashington Supreme Court · 1911
- Rich v. State National BankNebraska Supreme Court · 1878
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3Cited by5 opinions
- Huson v. Portland & Southeastern Railway Co.Oregon Supreme Court · 1922
- Smith v. SchmittOregon Supreme Court · 1924
- Crocker v. GentryOregon Supreme Court · 1928
- Atlas Trailers & Water Mufflers, Inc. v. McCallumTexas Supreme Court · 1929
- Huson v. Portland & Southeastern Railway Co.Oregon Supreme Court · 1922