Connecticut River Savings Bank v. Fiske
Supreme Court of New Hampshire
B ill in Equity, to enforce the individual liability of the stockholders of the Charlestown Boot & Shoe Company. Reported 60 N. Tl. 363. Seventeen of the defendants appeared and contested the suit. Five of the other seven defendants did not appear. Dunsmore and Charles Willard, the other two defendants, appeared, and moved for leave to be joined as plaintiffs.
Read the full summary
B ill in Equity, to enforce the individual liability of the stockholders of the Charlestown Boot & Shoe Company. Reported 60 N. Tl. 363. Seventeen of the defendants appeared and contested the suit. Five of the other seven defendants did not appear. Dunsmore and Charles Willard, the other two defendants, appeared, and moved for leave to be joined as plaintiffs. The representatives of Baldwin, a deceased stockholder, and George Willard, who had bought Baldwin’s stock and left the state, were not joined as defendants in the bill. Facts found by a referee. Dunsmore’s claim is a judgment recovered…
1Opinion of the CourtDoe, C. J.
The debts of such a corporation as this “shall not exceed the amount of one half of its stock actually paid in, and of its other property and assets . ; and in case of any excess, the directors under whose administration it shall happen shall be jointly and severally liable, to the extent of such excess, for all the debts of the corporation then existing, and for all that shall be contracted so long as they shall respectively continue in office, and until the debts . . . shall be reduced to the amount herein prescribed, provided that” directors, absent or objecting, “may exempt themselves…
2Cited by1 opinion
- Swan v. BurnhamSupreme Court of New Hampshire · 1900