Pankey v. Lippman
Supreme Court of Alabama
Appeal from Jefferson Chancery Court. ' Heard before Hon. A. H. Benners. Bill by J. & G. Lippman against T. M. Pankey and others as directors and individuals, under § 3516, Code 1907, to enhance the assets of the corporation already dissolved by compelling payment of the unpaid subscriptions to the capital stock. Prom a decree overruling demurrers to the bill respondents appeal.
Read the full summary
Appeal from Jefferson Chancery Court. ' Heard before Hon. A. H. Benners. Bill by J. & G. Lippman against T. M. Pankey and others as directors and individuals, under § 3516, Code 1907, to enhance the assets of the corporation already dissolved by compelling payment of the unpaid subscriptions to the capital stock. Prom a decree overruling demurrers to the bill respondents appeal. There is no equity in the bill.—§§ 3168, 3509, 3510, et seq., Code 1907; 12 Cyc. 11, and notes; Moses v. St. Pcml, 67 Ala. 168; Nixon v. Duncan, 18 Ala. 155. Complainants must show that they have exhausted their…
1Opinion of the CourtMcCLELLAN, J.
The appeal is from a decree overruling demurrers to the original bill. The complainant (appellees) assert that they were creditors of a corporation, created under the laws of Alabama, called the Tom Pankey Brokerage Company. The nature and sum of their claim against the corporation was and is the result of the breach by the corporation of an ex-ecutory contract of purchase and sale of certain commodities, the corporation having refused to receive them; whereupon the complainants sold the same in open market at the prevailing market price, entailing damages to them of approximately $1,500. The…
2Cases cited4 opinions
- McDonnell v. Alabama Gold Life InsuranceSupreme Court of Alabama · 1888
- Anderson v. AndersonSupreme Court of Alabama · 1879
- Warren v. KilgroeSupreme Court of Alabama · 1912
- Drennen v. JenkinsSupreme Court of Alabama · 1913
3Cited by12 opinions
- Thompson v. Park Sav. BankCourt of Appeals for the D.C. Circuit · 1938
- King v. COOSA VALLEY MINERAL PRODUCTS COMPANYSupreme Court of Alabama · 1968
- 48th Street Fairfield Inv. v. Fairfield-Am. Nat. BankSupreme Court of Alabama · 1931
- Rochell v. OatesSupreme Court of Alabama · 1941
- Hundley v. HewittSupreme Court of Alabama · 1916
7 more not listed; retrieve them via the Exa API.