M'Laughlin v. Detroit & Milwaukee Railway Co.
Michigan Supreme Court
Case made after judgment, from Shiawassee Circuit Court, into which the cause had been removed by appeal from a justice of the peace. The action was brought to recover interest upon a certificate of which the following is a copy: “State of Michigan. No. 662. 10 Shares: Detroit and Milwaukee Railway Company.
Read the full summary
Case made after judgment, from Shiawassee Circuit Court, into which the cause had been removed by appeal from a justice of the peace. The action was brought to recover interest upon a certificate of which the following is a copy: “State of Michigan. No. 662. 10 Shares: Detroit and Milwaukee Railway Company. Robert McLaughlin, of Shiawassee county, is entitled to ten shares, of fifty dollars each, of the capital stock of the Detroit and Milwaukee Railway Company, transferable in person or by attorney only on the surrender of this certificate, and bearing interest at seven per cent., payable…
1Opinion of the Court
Cheistianct J.:
The plaintiff’s counsel, upon the argument of this cause, seemed to concede that, if the plaintiff was a stockholder or member of the company, he would be bound by the resolution of the 11th of November, for the payment of the interest in bonds instead of money; and hence, he insists that the certificate upon which the action is brought, is not properly a certificate of stock, but merely evidence of a conditional subscription; and that the plaintiff would not become a stockholder until the condition should be performed by the opening of the road to Lake Michigan.
We think the…
2Cases cited1 opinion
- Taylor v. Stowell, Chamberlain, & Co.Court of Appeals of Kentucky · 1862
3Cited by9 opinions
- Scott v. Trustees of the First Free Methodist ChurchMichigan Supreme Court · 1883
- Brooks v. JanuaryMichigan Court of Appeals · 1982
- Wineinger v. Farmers' & Stockmen's Loan & Investment Ass'nCourt of Appeals of Texas · 1925
- Hamrick v. BryanDistrict Court, N.D. Oklahoma · 1937
- Williston v. Michigan Southern & Northern Indiana RailroadMassachusetts Supreme Judicial Court · 1866
4 more not listed; retrieve them via the Exa API.