Buffalo & Allegany Railroad v. Cary
New York Court of Appeals
Appeal from the Superior Court of Buffalo. Action upon the subscription of the intestate to the capital stock of the plaintiff.
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Appeal from the Superior Court of Buffalo. Action upon the subscription of the intestate to the capital stock of the plaintiff. The plaintiff undertook to become incorporated under the general railroad act of 1850. In May, 1853, its articles of association were filed, and the intestate, June 8th thereafter, became a subscriber for one thousand dollars of the capital stock, and paid ten per cent at the time of subscribing, and died in September, 1853. The directors, after his death, made seven calls upon the stock of one hundred dollars each, and for this seven hundred dollars, claimed to be…
1Opinion of the Court
Denio, Ch. J., Davies, Wright, Gould and Smith, Js., were for affirming the judgment.
Their reasons were not put *69in writing. Those of the court below were delivered by Masten, J., as follows:
The defendant contends that the plaintiff’s organization is defective, because the'affidavit' annexed to the articles of association does not contain the allegation required by the statute, “ that it is intended in good faith to construct or to maintain and operate the road mentioned in the articles of association,” and that it is not therefore a corporation. The articles of association are in due form,…
2Cases cited2 opinions
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- First Baptist Society v. RapaleeNew York Supreme Court · 1837
3Cited by2 opinions
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- Douglass v. CrossNew York Supreme Court · 1878