Irby v. Harvey

Prentis, P.,

delivered the opinion of the court.

Mrs. B. B. Irby (defendant) is here complaining of a judgment in favor of Harvey, based upon a negotiable note executed by her when she subscribed' for $250 par value of Class A stock of the First National Coal Corporation. The note became due in December, 1922. In January, 1923, there was a stockholders’ meeting, at which the officials reported the need of $6,500 to pay the current indebtedness and enable the company to conduct a profitable business. At that meeting it was determined to execute the company’s note for this amount and pledge the…