Berry v. Yates
New York Supreme Court
THIS action was brought by the plaintiff, as receiver, to recover one-half of an alleged subscription of the defendants to the capital stock of the Atlas Insurance Company.
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THIS action was brought by the plaintiff, as receiver, to recover one-half of an alleged subscription of the defendants to the capital stock of the Atlas Insurance Company. That subscription bears date November 8, 1855, and was for $1000, payable in six and twelve months, less five per cent, and this suit was brought to recover the sum of $475, due thereon May 11,1856. The complaint alleged that the Atlas Insurance Company was an incorporated insurance company on the mutual plan, organized and doing business in the city of New York, and became insolvent, and on the 11th of March, 1856, the…
1Opinion of the CourtDavies, J.
The terms of the subscription, and the testimony, conclusively establish the position that the subscription of the defendants was not to be binding unless the sum of $300,000 was actually subscribed. It was incumbent on the plaintiff, as essential to his right to recover, to establish the fulfillment of the condition precedent—that this sum had been subscribed; and for this purpose he produces and proves' the subscription book, which contains first, a statement under date of Nov. 8,1855, in these words: “ The trustees of the Atlas Mutual Insurance Company, in order to show their desire and…
2Cases cited2 opinions
- Mechanics & Working Men's Mutual Savings Bank v. Meriden Agency Co.Supreme Court of Connecticut · 1855
- Sandford v. HalseyNew York Supreme Court · 1845
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- Franklin Co. v. Lewiston Institution for SavingsSupreme Judicial Court of Maine · 1877
- Coal Creek, etc., Co. v. Tennessee Coal, etc., Co.Tennessee Supreme Court · 1901
- Gunn v. Central RailroadSupreme Court of Georgia · 1885
- West-End Narrow-Gauge Railroad v. DameronMissouri Court of Appeals · 1877
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