Belmont v. . Coleman
New York Court of Appeals
Appeal from the Superior Court of the city of New York. Action, to recover of the defendants, as stockholders of the Mexican Ocean Mail and Inland Company, the amount of a judgment recovered by the plaintiff against such company, upon which an execution had been returned unsatisfied. The ground alleged for the personal liability of the defendants, was that the capital stock of the company had not been paid in.
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Appeal from the Superior Court of the city of New York. Action, to recover of the defendants, as stockholders of the Mexican Ocean Mail and Inland Company, the amount of a judgment recovered by the plaintiff against such company, upon which an execution had been returned unsatisfied. The ground alleged for the personal liability of the defendants, was that the capital stock of the company had not been paid in. The trial was before a referee, who found all necessary facts to charge the defendants, provided the indebtedness to the corporation was established. ' Upon this question he found as…
1Opinion of the Court
Bacoít, J.
Tlie object of the suit is to enforce a liability arising from the provisions' of the act passed April 12, 1852, for the incorporation of .companies formed.to navigate the ocean by steamships. T,he 6th section of .that act provides, in substance, that the stockholders of any such- company shall be liable to the creditors of such corporation to an amount equal to ,the stock held by them respectively, until the amount of .the capital stock shall foe paid in. A subsequent -section attaches this liability to every owner of stock, although he does not appear upon the books to be a…
2Cases cited2 opinions
- McCullough v. MossCourt for the Trial of Impeachments and Correction of Errors · 1846
- Slee v. BloomCourt for the Trial of Impeachments and Correction of Errors · 1822
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- Assets Realization Co. v. . HowardNew York Court of Appeals · 1914
- Hale v. HardonCourt of Appeals for the First Circuit · 1899
- Bissit v. Kentucky River Navigation Co.District Court, E.D. Kentucky · 1882
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