Cutting v. Damerel
New York Supreme Court
Motion for a new trial on exceptions ordered to be heard in the first instance at the General Term, after a verdict in favor of the defendant, ordered at the Circuit.
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Motion for a new trial on exceptions ordered to be heard in the first instance at the General Term, after a verdict in favor of the defendant, ordered at the Circuit. All persons who were registered on the books of the Bankers’ and Brokers’ Association as holders of shares of its capital stock, when that association failed and came into the hands of a receiver, remained the legal owners of the shares, and were subject to the liability to pay the sum necessary to complete the amount of such share as fixed by the charter. (L. 1867, ch. 474, § 2; Adderty v. Storms, 6 Hill, 624; Mann v. Currie, 2…
1Opinion of the Court
Daniels, J. :
The plaintiff, as receiver of the Bankers’ and Brokers’ Association, a corporation ereated by chapter 474 of the Laws of 1867, brought the present action to recover the sum of $30 on each share of the corporate stock, standing in the defendants’ name on the books of the corporation. Its capital stock was declared to be $500,000, divided into shares of $100 each (1 L. 1867, p. 1168, § 2), and by the certificate of the stock in, controversy, it appeared that but fifty per cent, of the par value had been paid upon the shares. This was sufficient to make out a ease of presumptive…
2Cases cited3 opinions
- Shellington v. . HowlandNew York Court of Appeals · 1873
- Mann v. CurrieNew York Supreme Court · 1848
- Shellington v. HowlandNew York Supreme Court · 1873