Vermont Central Rail Road v. Clayes
Supreme Court of Vermont
Assumpsit upon a promissory note. Plea, the general issue, and trial by the court, November Adjourned Term, 1847, — Bennett, J., presiding. On trial the plaintiffs gave in evidence the note declared upon, signed by the defendant, and dated July 18, 1845, and which was in these words, — “ On demand for value received I promise to pay the Commissioners of the Vermont Central Rail Road Company two hundred and fifty dollars.”
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Assumpsit upon a promissory note. Plea, the general issue, and trial by the court, November Adjourned Term, 1847, — Bennett, J., presiding. On trial the plaintiffs gave in evidence the note declared upon, signed by the defendant, and dated July 18, 1845, and which was in these words, — “ On demand for value received I promise to pay the Commissioners of the Vermont Central Rail Road Company two hundred and fifty dollars.” The plaintiffs also gave in evidence a subscription list to the capital stock of the corporation, upon which it appeared the defendant had subscribed for fifty shares, and…
1Opinion of the Court
The opinion of the court was delivered by
Bennett, J.
It is-claimed by the defendant, that the note now in controversy is without consideration. The defendant and others had signed an instrument, by which the subscribers agreed to take, and did take, the number of shares of the capital stock of the company, affixed to their respective names; and this defendant sub*34scribed for fifty shares of the stock. The note in suit was given for the first five dollars payable on each respective share, which, by the terms of the charter of incorporation, was to be paid to the commissioners at the time of the…
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3Cited by15 opinions
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