Alabama Terminal & Inprovement Co. v. Hall & Farley
Supreme Court of Alabama
Bill by Creditors to Reach Unpaid Stock Subscription. Appeal from Montgomery Chancery Conrt. Heard before Hon. W. L. Parks. Bill by J. L. Hall and another, as trustees, etc., and others, against the Alabama Terminal & Improvement Company and others. From a decree overruling a demurrer to the bill, defendants appeal; and from a decree dismissing an amended bill as to defendants O. C. Wiley and others, complainants prosecuted a cross appeal.
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Bill by Creditors to Reach Unpaid Stock Subscription. Appeal from Montgomery Chancery Conrt. Heard before Hon. W. L. Parks. Bill by J. L. Hall and another, as trustees, etc., and others, against the Alabama Terminal & Improvement Company and others. From a decree overruling a demurrer to the bill, defendants appeal; and from a decree dismissing an amended bill as to defendants O. C. Wiley and others, complainants prosecuted a cross appeal. The original bill was filed March 17, 1894, and had for its sole purpose the condemnation and collection of defendants the amounts alleged to be due and…
1Opinion of the CourtTyson, C. J.
The bill in this cause, as originally filed, averred that WóolfoTk. as president of the debtor corporation, Avithout- authority, agreed with the share*266holders that they should pay their stock subscriptions to the capital stock of the debtor corporation, and that he would thereupon purchase their stock for the corporation, and pay for the same with its. assets, which was done. It was also averred that by reason of such agreement and purchase of the stock the appellants as shareholders had never paid their subscription obligations. In other words, the averments of the bill, in substance and…
2Cases cited31 opinions
- Central of Georgia Railway Co. v. FosheeSupreme Court of Alabama · 1899
- Seals v. Robinson & Co.Supreme Court of Alabama · 1883
- Yeend v. WeeksSupreme Court of Alabama · 1893
- Smith v. Board of Sup'rsMississippi Supreme Court · 1920
- Nelson v. First National Bank of MontgomerySupreme Court of Alabama · 1903
26 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- King v. Livingston Manufacturing Co.Supreme Court of Alabama · 1915
- Alabama Consolidated Coal & Iron Co. v. HealdSupreme Court of Alabama · 1910
- Farley v. Alabama Terminal & Improvement Co.Supreme Court of Alabama · 1911
- Dickerson v. FinleySupreme Court of Alabama · 1908
- Sturdavant v. First Ave. Coal & Lumber Co.Supreme Court of Alabama · 1929
24 more not listed; retrieve them via the Exa API.