Shields v. Hobart
Supreme Court of Missouri
Appeal from Greene Circuit Court. — Hon. Jas. T. Ne-ville, Judge. (1) The defendants Byron F. Hobart and the estate of J. S. Ambrose, deceased, can not maintain their set-offs as against their liability to plaintiff as unpaid stockholders to the Real Estate Investment Company for the following reasons: (a) There can be no set-off unless the debts are mutual and in the same right. Sawyer v. Hoag, 17 Wall. 622; Story’s Eq. Jur.
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Appeal from Greene Circuit Court. — Hon. Jas. T. Ne-ville, Judge. (1) The defendants Byron F. Hobart and the estate of J. S. Ambrose, deceased, can not maintain their set-offs as against their liability to plaintiff as unpaid stockholders to the Real Estate Investment Company for the following reasons: (a) There can be no set-off unless the debts are mutual and in the same right. Sawyer v. Hoag, 17 Wall. 622; Story’s Eq. Jur. (11 Ed.), 1436, 1437. (b) The statutory individual liability of a stockholder is not a debt due by him to the company; forms no part of the assets of the company, but is…
1Per curiam
The above-entitled cause having been heard and considered by the Court in Banc, the opinion of Gantt, J., in Division Two is adopted as
the opinion of the court.
Robinson, C. J., Brace, Gantt, Burgess, Valliant and 'Fox, JJ., concur in toto; Marshall, J., concurs in the views expressed, but is in favor of reversing and remanding the cause for a new trial. *505GANTT, J.
On or about the last days of February, 1887, Lucius Hubbell of the real estate firm of • "Wo'oley, Porter & Hubbell of Springfield, Missouri, for one thousand dollars cash paid, obtained an agreement from George M. Jones to convey to…
2Cases cited16 opinions
- Wood v. DummerU.S. Circuit Court for the District of Maine · 1824
- Williams v. . Western Union Telegraph Co.New York Court of Appeals · 1883
- Van Cleve v. BerkeySupreme Court of Missouri · 1898
- Shickle v. WattsSupreme Court of Missouri · 1887
- Hill v. Rich Hill Coal Mining Co.Supreme Court of Missouri · 1893
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3Cited by18 opinions
- Eugene Alper Construction Co. v. Joe Garavelli's of West Port, Inc.Missouri Court of Appeals · 1983
- First National Bank v. RockefellerSupreme Court of Missouri · 1906
- Vogeler v. PunchSupreme Court of Missouri · 1907
- Boley v. Sonora Development Co.Missouri Court of Appeals · 1907
- Hodde v. HahnSupreme Court of Missouri · 1920
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