Freeman v. Machias Water Power & Mill Co.
Supreme Judicial Court of Maine
On Report from Nisi Prius, Appleton, J., presiding. Assumpsit to recover dividends made upon four shares of the capital stock of defendant corporation; viz. $2 a share, January 28, 1852, and $2,25 per share, January 26, 1853. The action was originally brought before a justice of the peace, and came up by appeal. The general issue was pleaded.
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On Report from Nisi Prius, Appleton, J., presiding. Assumpsit to recover dividends made upon four shares of the capital stock of defendant corporation; viz. $2 a share, January 28, 1852, and $2,25 per share, January 26, 1853. The action was originally brought before a justice of the peace, and came up by appeal. The general issue was pleaded. After the evidence was introduced, it was agreed that the Court might draw from it the inferences which a jury would be authorized to do, and render such judgment as the law may require. The Act of incorporation was passed by the Legislature of this…
1Opinion of the CourtAppleton, J.
— It was held in Penobscot Boom Corporation v. Lamson, 16 Maine, 224, that in a suit by a corporation, the plea of the general issue was an admission 'of its *345legal existence and competency to maintain an action. It is not perceived why the same doctrine is not equally applicable to corporations when sued as defendants. But while the existence of the corporation is thus admitted, the time when it first acquired .a valid organization is left undetermined. The only effect of the admission is, that at the time of the institution of the suit, the corporation, a party thereto, was capable of suing…
2Cited by2 opinions
- Western Union Telegraph Co. v. EyserSupreme Court of Colorado · 1873
- Aspinwall v. Ohio & Mississippi R. R.Indiana Supreme Court · 1863