Sparks v. Lower Payette Ditch Co.
Idaho Supreme Court
APPEAL from District Court, Ada County. Injunction is the proper remedy of tbe stockholders against an illegal assessment.
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APPEAL from District Court, Ada County. Injunction is the proper remedy of tbe stockholders against an illegal assessment. (2 High on Injunctions, sec. 1219; Cook on Stock and Stockholders, sec. 502; Mitchell v. Mining Co., 67 N. Y. 280; Clearwater v. Meredith, 1 Wall. 41; Nugent v. Supervisors, 19 Wall. 249.) Unless the corporate charter or a constitutional statute provide otherwise, a stockholder, the full par vaule of whose stock has been paid in, is not liable, and cannot be made to pay any sums in addition thereto. (Cook on Stock and Stockholders, secs. 241, 242; Railroad Co. v. Gopp, 38…
1Opinion of the CourtSullivan, C. J.
This action was brought by the appellants, as plaintiffs, against the respondent, as defendant, to obtain an injunction to restrain the officers of the respondent from offering for sale, or selling, shares of the capital stock of said corporation belonging to the appellants. The court below refused to grant the injunction, and entered judgment for the respondent, from which judgment this appeal was taken. It appears from the record that the respondent is a corporation organized for the purpose of constructing and maintaining an irrigating ditch on the Lower Payette river, in Ada county,…
Also in this document: Concurrence.
2Cases cited1 opinion
- Santa Cruz Railroad v. SprecklesCalifornia Supreme Court · 1884
3Cited by3 opinions
- Wall v. Basin Mining Co.Idaho Supreme Court · 1909
- Rapple v. HughesIdaho Supreme Court · 1904
- Wall v. Basin Mining Co.Idaho Supreme Court · 1909