Seacoast Packing Co. v. Long.
Supreme Court of South Carolina
Before DeVore, J., Beaufort. Action by Seacoast Packing Co. against R. A. Bong. From order striking out certain defenses as sham, the defendant appeals. cites: Subscriber may give his subscription on condition that full amount be subscribed: 14 C. J., 538, et seq. Defense to be frivolous must be manifestly so: 2 S. C., 422. Answer set up proper defenses: 1 S. E., 255; 73 Ga., 437; 109 Md., 558; 130 Am. St. Rep.) 531; 16 Ann.
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Before DeVore, J., Beaufort. Action by Seacoast Packing Co. against R. A. Bong. From order striking out certain defenses as sham, the defendant appeals. cites: Subscriber may give his subscription on condition that full amount be subscribed: 14 C. J., 538, et seq. Defense to be frivolous must be manifestly so: 2 S. C., 422. Answer set up proper defenses: 1 S. E., 255; 73 Ga., 437; 109 Md., 558; 130 Am. St. Rep.) 531; 16 Ann. Cas., 1247; 16 S. E., 877; 75'Md., 367; 14 C. J., 538. cites: Corporation may get charter after subscription of 50 per cent, of stock: 1 Civ. Code, 1912, Secs. 2837-8; 16…
1Opinion of the Court
The opinion of the Court was delivered by
Mr. Justice Fraser.
The complaint alleges that the défendant, along with others, subscribed. in writing for five shares of the capital stock of the plaintiff corporation at a par value of $100 per share and had failed to .comply with the terms of the subscription.
The defendant, for a second defense, alleges a failure of the plaintiff to comply with a certain parol contract made by “the parties soliciting his subscription,” and that the representations were fraudulently made. The third defense was that the subscription was made before the corporation had…
2Cited by3 opinions
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- Seacoast Packing Co. v. ScheinSupreme Court of South Carolina · 1921
- Seacoast Packing Co. v. ScheinSupreme Court of South Carolina · 1921