Gilkie & Anson Co. v. Dawson Town & Gas Co.
Nebraska Supreme Court
Appeal from the district court of Douglas county. Heard below before Hopewell, J. The opinion contains a statement of the case. Fraud will never be imputed when the circumstances and facts upon which it is predicated may consist with honesty and purity of purpose.
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Appeal from the district court of Douglas county. Heard below before Hopewell, J. The opinion contains a statement of the case. Fraud will never be imputed when the circumstances and facts upon which it is predicated may consist with honesty and purity of purpose. (Bump, Fraudulent Conveyances [3d ed.], 603; Clemens v. Brillhart, 17 Neb., 337.) Where subscriptions for stock are paid in property, a creditor of the corporation who alleges fraud in the transaction must not only prove that there was an overvaluation of the property, but must prove also that such overvaluation was intentional.…
1Dissent
Ragan, C.,
dissenting.
This is a suit by some creditors of an insolvent private corporation against its stockholders. The creditors seek to recover their debts of the stockholders on the ground that the latter are indebted to the corporation on their stock subscription. This corporation was authorized by its charter *352to engage in the business of buying and selling lands in the states of Nebraska and Iowa; to plat and lay out real estate into lots, blocks, streets, and alleys for the purposes of cities, villages, and towns; to manufacture brick, terracotta, tiling, and other articles that could…
2Cases cited9 opinions
- Coit v. Gold Amalgamating Co.Supreme Court of the United States · 1886
- Young v. Erie Iron Co.Michigan Supreme Court · 1887
- Bank of Fort Madison v. AldenSupreme Court of the United States · 1889
- Boynton v. . AndrewsNew York Court of Appeals · 1875
- Lake Superior Iron Co. v. . DrexelNew York Court of Appeals · 1882
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