Progreso Financiero, Inc. v. Gómez

This is an appeal from a judgment in favor of the plaintiff, rendered by the District Court of San Juan in an action to collect a note. The facts are these:

The plaintiff is a banking corporation. In its Stock Beg-ister Book an entry appears, dated February 18, 1929, according to which the defendant subscribed on that date to 25 shares of stock par value $100 each, and her account was charged with the total amount, $2,500. On June 19th, 1929, she paid $500 in cash. Her account was credited with the money and a certificate was issued for shares 101-105. The by-laws specify that directors must…