Wyman v. Bowman
Court of Appeals for the Eighth Circuit
Appeal from the Circuit Court of the United States for the Southern District of Iowa. This is an appeal from a decree which dismissed a bill in equity exhibited by Albert TJ.
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Appeal from the Circuit Court of the United States for the Southern District of Iowa. This is an appeal from a decree which dismissed a bill in equity exhibited by Albert TJ. Wyman, as receiver of the property of the Nebraska Fire Insurance Company, against Thomas Bowman, Millard F. Rohrer, Fayette O. Gleason, Eli L. Shugart, Henry C. Eaub, John M. Campbell, John Y. Stone, and George W. Kingsnorth, who were once stockholders of the insurance company, to compel them to pay the unpaid part of their subscriptions to the stock of that corporation, which was alleged to be 50 x>er cent, thereof.…
1Opinion of the CourtSanborn, Circuit Judge
Section 4 of article nb of the Constitution of Nebraska declares that the original subscribers to the stock of a corporation in that state shall, after the corporate property is exhausted, be individually liable for its debts to the extent of their unpaid subscriptions. This liability is contractual. It rests on the agreement of subscription. Each subscriber, when he makes his contract to take and pay for the stock, agrees to assume and discharge all the legal obligations and duties of a stockholder. This provision of the Constitution of the state of Nebraska is necessarily read into, and…
2Cases cited45 opinions
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- Boyce's Executors v. GrundySupreme Court of the United States · 1830
- Oelrichs v. SpainSupreme Court of the United States · 1872
- Hale v. AllinsonSupreme Court of the United States · 1903
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3Cited by57 opinions
- Pepper v. LittonSupreme Court of the United States · 1939
- United States v. LemireCourt of Appeals for the D.C. Circuit · 1983
- Epstein v. United StatesCourt of Appeals for the Sixth Circuit · 1949
- Holly Sugar Corp. v. FritzlerWyoming Supreme Court · 1931
- Burnes v. BurnesCourt of Appeals for the Eighth Circuit · 1905
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