Franklin Fire Insurance v. Hart
Court of Appeals of Maryland
Appeal from Baltimore City Court. Tbe appeal in this case was taken from a judgment for ' $700, rendered by, Baltimore City Court, on tbe 9tb of ' November, 1868, against tbe appellant at tbe suit of tbe appellee.
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Appeal from Baltimore City Court. Tbe appeal in this case was taken from a judgment for ' $700, rendered by, Baltimore City Court, on tbe 9tb of ' November, 1868, against tbe appellant at tbe suit of tbe appellee. Tbe suit was brought on tbe 2d of April, 1868, by the appellee,' to recover compensation, at the rate of $100 per month, for services which he alleged he had rendered as secretary to the appellant, from the 15th of April, 1867, to the 31st of January, 1868. By a proper construction of the Act of incorporation, 1867, ch. 392, the subscription to the stock and payment per share, as…
1Opinion of the CourtMiller, J.
Notwithstanding the language of the first section of the Act of 1867, ch. 392, incorporating the appellant, we are satisfied, from a careful examination of all the provisions of that Act, it was not the intent of the Legislature to create the named persons a body corporate immediately upon their doing any act evidencing their acceptance of the charter. On the contrary, the manifest design was not simply that the company should not commence its business, but that the corporation should not come into existence until three thousand shares of the capital stock had been subscribed and paid, or…
2Cases cited2 opinions
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- Coalter v. BargaminSupreme Court of Virginia · 1901
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