Freeman v. Brady

Opinion by

Mr. Justice Linn,

The suit began by the Secretary’s bill for a decree requiring defendants, as shareholders of a trust company in liquidation, to pay unpaid stock subscriptions. Preliminary objections were filed, asserting that the remedy was at law and that the claims were barred by limitation. As the statute expressly authorized the Secretary to bring such suits “at law or in equity,” we reversed and remitted the record for trial (1) whether the Secretary had made demand on the shareholders within a reasonable time, and (2) whether the action was barred, 346 Pa. 666. The court…