Asbury v. . Mauney
Supreme Court of North Carolina
Civil action, tried, before Cline, J., at November Term, 1913', of Stanly. This is an action to recover the sum of $93.66 which, the plaintiff alleges is due him on account of an agreement entered into by the defendant, a stockholder of the E. M. Asbury Company. The E. M. Asbury Company was a corporation and the stockholders were E. Y. Watkins, C. J. Mauney, C. W. Andrews, E. M. Asbury, A. S. McRae, and Miss Spencer.
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Civil action, tried, before Cline, J., at November Term, 1913', of Stanly. This is an action to recover the sum of $93.66 which, the plaintiff alleges is due him on account of an agreement entered into by the defendant, a stockholder of the E. M. Asbury Company. The E. M. Asbury Company was a corporation and the stockholders were E. Y. Watkins, C. J. Mauney, C. W. Andrews, E. M. Asbury, A. S. McRae, and Miss Spencer. The corporation became insolvent and on 16 September, 1909, the stockholders held a call meeting for the purpose of fixing a price on the stock of merchandise on hand with a view…
1Opinion of the CourtAllen, J.
There are several objections to the right of tbe plaintiff to maintain this action.
In the first place, it does not appear tbat tbe stockholders entered into any agreement to pay tbe debts of tbe corporation. It is stated in tbe minutes tbat a motion to this effect was made and seconded, but it does not appear tbat it was voted upon or adopted, and this omission has particular significance in view of tbe evidence of all of tbe stockholders who were present at tbe meeting except tbe plaintiff, tbat after tbe motion was made and seconded, objection was raised, and it never came to .a vote, and…
2Cases cited3 opinions
- Wilson v. . Lewiston Mill Co.New York Court of Appeals · 1896
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- Wingate v. HerschauerSupreme Court of Iowa · 1876
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