Hartford & New-Haven Rail Road v. Kennedy
Supreme Court of Connecticut
This was an action of assumpsit to recover the amount of certain assessments upon ten shares of the stock of this company, held by the defendant as an original subscriber.
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This was an action of assumpsit to recover the amount of certain assessments upon ten shares of the stock of this company, held by the defendant as an original subscriber. The cause was tried at New-Haven, October term, 1837, before Huntington, J. At the session of the General Assembly of this state, in May, 1833, James Brewster and others were incorporated, by the name of The Hartford and New-Haven Rail-Road Company, for the purpose of constructing a rail-road from some suitable point in the town of Hartford to the city of New-Haven, and the navigable waters of New-Haven harbour; with the…
1Opinion of the CourtHuntington, J.
This is an action of assumpsit, brought to recover of the defendant, an original and continuing stockholder in the Hartford and New-Haven Rail-Road Company, the amount of instalments due upon his stock, and ordered to be paid, by the directors of the company, in pursuance of the provisions of the act of incorporation. The defendant resists payment, on the ground that he has made no promise, express or implied, to pay the sums demanded; and that the only remedy for the plaintiffs, on his failure to comply with the order of the directors, is, to sell the stock and apply the proceeds to the…
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