Elizabeth City Cotton Mills v. Dunstan
Supreme Court of North Carolina
Civil actioN tried, on appeal from tire judgment of a Justice of the Peace, before Qreene, J., and a Jury at July, 1897, Special Term of Pasquotank Superior Court. The action was for $200.00, the difference between the amount of defendant’s subscription to the stock of plaintiff corporation and the amount for which the stock sold after haying been declared forfeited according to the by-laws of the-Company.
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Civil actioN tried, on appeal from tire judgment of a Justice of the Peace, before Qreene, J., and a Jury at July, 1897, Special Term of Pasquotank Superior Court. The action was for $200.00, the difference between the amount of defendant’s subscription to the stock of plaintiff corporation and the amount for which the stock sold after haying been declared forfeited according to the by-laws of the-Company. The only issue submitted on the trial was, “Is the defendant indebted to the plaintiff, and if so in> what sum ?” It was admitted that the plaintiff was duly incorporated and organized, and…
1Opinion of the Court
Clark, J.:
The agreement was that the subscription was not to be binding unless the sum of $80,000 was subscribed “by July 1.” The full amount named was subscribed at the meeting held on the night of July 1. This was a performance of the condition. “By” has many significations, but when used to designate a terminal point of time it is defined by the Century Dictionary to mean “not later than,”' “as early as.” The Standard defines it “not later than,” and Webster “not later than,” “as soon as.” The condition therefore, “by July 1” meant that the whole amount should be subscribed “not later…
2Cases cited3 opinions
- Stevens v. BluntMassachusetts Supreme Judicial Court · 1810
- Goodloe v. . TaylorSupreme Court of North Carolina · 1825
- Preston v. DunhamSupreme Court of Alabama · 1875
3Cited by5 opinions
- Blalock v. Clark.Supreme Court of North Carolina · 1903
- Scheuer & Tiegs, Inc. v. BenedictWisconsin Supreme Court · 1921
- Weir v. S. & J. T. ClarkAlabama Court of Appeals · 1912
- In re the Election of Directors of the New York & Westchester Town Site Co.Appellate Division of the Supreme Court of the State of New York · 1911
- Goodloe v. . TaylorSupreme Court of North Carolina · 1825