Bank of Kaplan v. Richards

LECHE, J.,

dissenting. . Defendant had subscribed to One thousand dollars worth of 'stock in the Rice-O-La Company. The company' was placed in the hands of a receiver, ■ and the receiver found it necessary to sell all the assets of the corporation. Among these assets was the stock subscription of the defendant; which with the other assets was sold by the receiver to plaintiff, the Bank ■ of Kaplan.

The present action is by the Bank of Kaplan against the defendant to recover the amount of his unpaid stock subscription in the Rice-O-La Company.

Defendant pleaded no cause of action and the trial…