Kritzer v. Woodson
Supreme Court of Missouri
Error to Jackson Circuit Court. 1. Debts having been contracted by the company exceeding the capital stock actually paid in, and while the defendants were directors, they became liable in their individual capacity to pay the same.
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Error to Jackson Circuit Court. 1. Debts having been contracted by the company exceeding the capital stock actually paid in, and while the defendants were directors, they became liable in their individual capacity to pay the same. R. C. 1845, tit. corporations, art. 1, sec. 1. 2. The plaintiff is entitled to recover from the defendants the amount he was compelled to pay out of his individual means to satisfy the debts so created by them. 1. The liability of the directors who violate the law, is to the corporate creditors and not to the stockholders. 2. The petition is defective, in not…
1Opinion of the CourtGamble, Judge
Kritzer was a stockholder in an incorporated company, called “ The Independence and Missouri River Railroad Company.” Woodson' and others, the defendants, were directors of the company. The petition alleges that the defendants, as directors of the company, incurred debts on the part of the company, to an amount exceeding the amount of the capital stock paid in; the excess being three thousand dollars. It is next alleged, that a creditor of the company recovered judgment against it, and having, upon execution, sold all the corporate property, without satisfying his execution, he issued an…
2Cases cited1 opinion
- Robinson v. SmithNew York Court of Chancery · 1831
3Cited by23 opinions
- Fusz v. SpaunhorstSupreme Court of Missouri · 1878
- Guerney v. MooreSupreme Court of Missouri · 1895
- Breitung v. LindauerMichigan Supreme Court · 1877
- Diversey v. SmithIllinois Supreme Court · 1882
- State v. ReidSupreme Court of Missouri · 1894
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