Vilas v. Milwaukee & Prairie du Chien Railway Co.
Wisconsin Supreme Court
APPEAL from the Circuit Court for Bane County. In July, 1856, the Milwaukee & Mississippi Railroad Company became liable, upon contract, to pay the plaintiff ten shares of its full paid stock, in consideration of the plaintiff’s having caused certain lands in Prairie du Chien in this state' of which he claimed to be the equitable owner, to be conveyed to said company by the persons who held the legal title to them.
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APPEAL from the Circuit Court for Bane County. In July, 1856, the Milwaukee & Mississippi Railroad Company became liable, upon contract, to pay the plaintiff ten shares of its full paid stock, in consideration of the plaintiff’s having caused certain lands in Prairie du Chien in this state' of which he claimed to be the equitable owner, to be conveyed to said company by the persons who held the legal title to them. The stock was never paid to him, though demanded of said company in May, 1857. At the time it became due, and at the time of such demand, the value of said stock was $810. In…
1Opinion of the Court
By the Court,
PAINE, J.
It seems to us almost too plain for argument that this action cannot be sustained. The plaintiff was a creditor of the Milwaukee & Mississippi Railroad Company. The road and property of that company were sold on a mortgage, and the purchasers organized the company which is the defendant in this suit, in pursuance of the provisions of chapter 121, Laws of 1856. The question is, whether this company, organized under that law by the purchasers at the mortgage sale, is liable for all the debts of the old company whose property they purchased ?
The counsel for the respondent…
2Cited by7 opinions
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- Manatee County Growers Ass'n v. Florida Power & Light Co.Supreme Court of Florida · 1934
- Morgan County v. ThomasIllinois Supreme Court · 1875
- Attorney General v. Chicago & Northwestern Railway Co.Wisconsin Supreme Court · 1874
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