Elliott v. Foster

TMs is another action by the receiver to collect assessments from the subscribers to stock in the Thrift Club. Melville v. Rhodes, 136 Wash. 220, 239 Pac. 560. It appears from the evidence that the defendant, a lawyer by profession, subscribed for one share of stock, payable at ten dollars per month. There was a nominal charge of one dollar made at. the time of subscription, which was paid, together with a ten dollar payment. No further payments were made. Assessments were made against the stock, prior to receivership, to recover which this action was brought.

As a defense to the suit, it was…