Kaysser v. McNaughton

The main question presented on this appeal is whether stockholders in a corporation are proportionately liable for the debts incurred by the corporation between November 4, 1930 (the date of the repeal of article XII, section 3, of the Constitution) and August 14, 1931 (the effective date of the repeal by the legislature of sec. 322, Civ. Code). Stated another way, did the repeal of the constitutional provision repeal the provision of the Civil Code dealing with the same subject?

The question is presented on the following state of facts. Appellant, as assignee of certain claims against the…