Engles v. Shaffer
Supreme Court of Arkansas
Appeal from Sebastian Chancery Court, Fort Smith District; J. V. Bourland, Chancellor; 1. Appellant has pursued the proper remedy. A committee was appointed to audit appellant’s account. The committee did so and reported to the company. This was an account stated and fixed the liability of the company. 47 Ark. 541; 80 Id. 472. The company was insolvent and had ceased its functions.
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Appeal from Sebastian Chancery Court, Fort Smith District; J. V. Bourland, Chancellor; 1. Appellant has pursued the proper remedy. A committee was appointed to audit appellant’s account. The committee did so and reported to the company. This was an account stated and fixed the liability of the company. 47 Ark. 541; 80 Id. 472. The company was insolvent and had ceased its functions. Equity was the appiate forum. 110 Ark. 39; 17 Ohio 187; 16 Conn. 593; 56 G-a. 191; 101 U. S. 205. 2. Appellee can not set-off against appellant the entirety of his unpaid stock subscribtion. He has deducted his…
1Opinion of the CourtSmith, J.
This is a suit against appellees to compel them to pay their proportionate part of the sum alleged to be due appellant by the Oklahoma Oil & Gas Company, hereafter referred to as the. company. The theory of the case is that the company is indebted to appellant, and that appellees are liable as stockholders in the company on unpaid subscriptions for stock. The court below found the cause was without equity, and dismissed it on that account. The basis of this finding was that appellant had, without authority, either express or implied, on the part of the company, expended the money for which he…
2Cases cited6 opinions
- Hatch v. DanaSupreme Court of the United States · 1880
- Ford Hardwood Lumber Co. v. ClementSupreme Court of Arkansas · 1911
- Fletcher v. Bank of LonokeSupreme Court of Arkansas · 1902
- Wait v. McKeeSupreme Court of Arkansas · 1910
- Blood v. La Serena Land & Water Co.California Supreme Court · 1907
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Engles v. Oklahoma Oil & Gas Co.Supreme Court of Arkansas · 1924