Bank of Tallassee v. Jordan
Supreme Court of Alabama
Appeal from City Court of Montgomery; Gaston Gunter, Judge. Action by the Bank of Tallassee against Mrs. M. R. Jordan. From a judgment for defendant, plaintiff appeals. Transferred from Court of Appeals under section 6, Acts 1911, p. 449.
1Opinion of the CourtMcCLELLAN, J.
[1] This is an action on a note, ^executed by Mrs. M. R. Jordan to the People’s Savings Bank of Tallassee. The state superintendent of banks found that the capital stock of the bank had become impaired; and, so advising some of the stockholders, directed that the loss must be repaired, else the bank would be closed. The defendant was the owner of 20 fully paid-up shares of the capital stock. At in informal conference of stockholders owning a majority of the capital stock it wás thought desirable that all stockholders should p'ay in to the bank a sum equal to 33% per centum of their respective…
2Cases cited4 opinions
- Paulson v. BoydWisconsin Supreme Court · 1908
- McClure v. ColcloughSupreme Court of Alabama · 1843
- Stone v. GoldbergAlabama Court of Appeals · 1912
- Sharp v. AllgoodSupreme Court of Alabama · 1893
3Cited by11 opinions
- Davenport & Harris Undertaking Co. v. RobersonSupreme Court of Alabama · 1929
- Stockyards Nat. Bank of South Omaha v. BraggUtah Supreme Court · 1925
- Hopkins v. JordanSupreme Court of Alabama · 1918
- Waters v. Byers Bros. & Co.Court of Appeals of Texas · 1921
- Grissom v. J. B. Colt & Co.Supreme Court of Alabama · 1928
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