Sebastian Bradt v. . Ephraim Benedict
New York Court of Appeals
Appeal from the Supreme Court. The plaintiff, as owner and holder of a promissory note made by a cotton manufacturing company incorporated under the general act (Laws of 1811, ch. 67), brought this action against the defendant, as a stockholder at the time of its dissolution, to enforce his individual liability under section seven of said act.
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Appeal from the Supreme Court. The plaintiff, as owner and holder of a promissory note made by a cotton manufacturing company incorporated under the general act (Laws of 1811, ch. 67), brought this action against the defendant, as a stockholder at the time of its dissolution, to enforce his individual liability under section seven of said act. The issue was upon the defendant’s being a stockholder at the time of dissolution, and it was tried at the Schenectady circuit, before Justice Cady, without a jury. The judge found, as facts, that the defendant was a stockholder up to April 14, 1852,…
1Opinion of the Court
[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.] By section thirty-eight of the act in relation to proceedings against corporations in equity (2 R.S., 463) it is provided that, "Whenever any incorporated company shall have remained insolvent for one whole year, or for one year shall have neglected or refused to pay and discharge its notes or other evidences of debt, or for one year shall have suspended the ordinary and lawful business of such corporation, it shall be deemed to have surrendered the rights,…
2Cases cited2 opinions
- Slee v. BloomNew York Supreme Court · 1822
- Briggs v. PennimanCourt for the Trial of Impeachments and Correction of Errors · 1826
3Cited by19 opinions
- Brock v. . PoorNew York Court of Appeals · 1915
- Toledo, St. L. & K. C. R. v. Continental Trust Co.Court of Appeals for the Sixth Circuit · 1899
- New England Iron Co. v. Gilbert (Metropolitan) Elevated RailroadNew York Court of Appeals · 1883
- Bruce v. . PlattNew York Court of Appeals · 1880
- People v. Northern RailroadNew York Supreme Court · 1869
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