Turnbull v. Payson
Supreme Court of the United States
Error to tbe Circuit Court of tbe United States for tbe District of' Maryland. Tbe facts are stated in tbe opinion of tbe court.
1Opinion of the CourtJustice Clifford
Stockholders in the bankrupt company were made liable by the act of incorporation “in all cases of losses exceeding the means of the corporation,” each to the amount of the stock which be held; and the record shows that the defendant, at the time of the alleged loss,' held fifty shares of the stock, eighty per cent of which was unpaid.
Sufficient also appears to show that tbe insurance company, on tbe 9th of October, 1871, met with losses by fire which exhausted all their funds and effects-; and that tbe corporation, on-the 14th of November of tbe next, year, was duly adjudged bankrupt by tbe…
2Cases cited11 opinions
- Mills v. DuryeeSupreme Court of the United States · 1813
- Christmas v. RussellSupreme Court of the United States · 1866
- Ladd v. BluntMassachusetts Supreme Judicial Court · 1808
- Adler v. Milwaukee Patent Brick Manufacturing Co.Wisconsin Supreme Court · 1860
- Ward v. Griswoldville Manufacturing Co.Supreme Court of Connecticut · 1844
6 more not listed; retrieve them via the Exa API.
3Cited by86 opinions
- Embry v. PalmerSupreme Court of the United States · 1883
- Whitney v. ButlerSupreme Court of the United States · 1886
- Finn v. BrownSupreme Court of the United States · 1891
- Commissioner of Banks v. Cosmopolitan Trust Co.Massachusetts Supreme Judicial Court · 1925
- Sigua Iron Co. v. GreeneCourt of Appeals for the Second Circuit · 1898
81 more not listed; retrieve them via the Exa API.