Roth v. Wallar

BARRETT, Commissioner.

These consolidated appeals by receivers of Presidential Investment Company are from summary judgments in favor of defendants, the makers of three notes.- The cause involves, allegedly, Article 11, Section 7 of the Constitution as implemented by RSMo 1969, §§ 351.160 and 351.165 V.A.M.S.; from the Constitution “No corporation shall issue shares * * * except for money paid * * and from one of the statutes; “No note * * * shall be considered as payment of any part of any share or shares * * RSMo 1969, § 351.165. Compare Bankers’ Mortgage Co. v. Lessley, Mo., 31 S.W.2d 1055.

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