Mann's Mercantile Co. v. Smith
Mississippi Supreme Court
Appeal from the circuit court of Sunflower county. Hon. Monroe McClurg, Judge. Suit by Mann’s Mercantile Company against A. B. Smith. From a judgment for defendant, plaintiff appeals. The facts are fully stated in the opinion of the court.
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Appeal from the circuit court of Sunflower county. Hon. Monroe McClurg, Judge. Suit by Mann’s Mercantile Company against A. B. Smith. From a judgment for defendant, plaintiff appeals. The facts are fully stated in the opinion of the court. This suit was filed against A. B. Smith, as director of the Smith Mercantile Company, for the purpose of holding him liable, as a director, under section 924, Code of 1906, which is as follows: “The amount of debts which any trading corporation or company may contract or owe shall not exceed the amount of its capital stock paid in; and, in case the debts…
1Opinion of the CourtCook, J.
The Smith Mercantile Company, a trading corporation, under the laws of this state, was doing business at its domicile in Indianola. The manager of the company bought a bill of merchandise from the traveling salesman of appellant. When this purchase was made, appellee, A. B. Smith, was present and assented to the purchase. Mr. Smith was, at this time, one of the directors of the Smith Mercantile Company. The merchandise so purchased was delivered to the Smith Mercantile Company.
Subsequently the Smith Mercantile Company was declared a bankrupt, and its estate was administered *27through the…
2Cases cited4 opinions
- Tradesman Publishing Co. v. Car Wheel Co.Tennessee Supreme Court · 1895
- Shackelford v. New Orleans, Jackson, & Great Northern RailroadMississippi Supreme Court · 1859
- Kimbrough v. DaviesMississippi Supreme Court · 1913
- Avery & Son v. McClureMississippi Supreme Court · 1908
3Cited by2 opinions
- Strain v. GaydenMississippi Supreme Court · 1945
- Metzger v. JosephMississippi Supreme Court · 1916