Aspinwall v. . Sacchi
New York Court of Appeals
Appeal by defendant Sacchi from a judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon the report of a referee. (Reported below, 1 Lans., 381.) This action was brought against defendants, who were stockholders with plaintiff in the Mexican Ocean Mail and Inland Company, for contribution.
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Appeal by defendant Sacchi from a judgment of the General Term of the Supreme Court in the first judicial department, affirming a judgment in favor of plaintiff entered upon the report of a referee. (Reported below, 1 Lans., 381.) This action was brought against defendants, who were stockholders with plaintiff in the Mexican Ocean Mail and Inland Company, for contribution. The company was incorporated under the act for the incorporation of companies formed to navigate the ocean by steamships. (Chap. 228, Laws of 1852.) Ro certificate that the capital was paid in was filed as required by…
1Opinion of the Court
Earl, C.
The Mexican Ocean Mail and Inland Company was organized as a corporation under the act, chapter 228 of the Laws of 1852. Section 5 of the act provides, that the stockholders of any corporation organized under the act shall be jointly and severally, individually liable for all debts that may be due and owing to all laborers and operatives for services performed for such corporation. Section 6 provides that the stockholders “shall be severally, individually liable to the creditors of such corporation, to an amount equal to the amount of stock held by them respectively, for all debts and…
2Cases cited4 opinions
- Eaton v. . AspinwallNew York Court of Appeals · 1859
- The Buffalo and Allegany Railroad Company v. . CaryNew York Court of Appeals · 1862
- Harger v. McCulloughNew York Supreme Court · 1846
- Norton v. CoonsNew York Supreme Court · 1846
3Cited by40 opinions
- Veeder v. . MudgettNew York Court of Appeals · 1884
- Ward v. Iroquois Gas Corp.New York Court of Appeals · 1932
- Diversey v. SmithIllinois Supreme Court · 1882
- Chase v. . LordNew York Court of Appeals · 1879
- Aetna Casualty & Surety Co. v. Certain Underwriters at Lloyd's LondonNew York Supreme Court · 1998
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