Coffin v. Rich
Supreme Judicial Court of Maine
This is an action brought by the plaintiffs, as judgment creditors of the Kennebec and Portland Railroad Company, to recover of the defendant, as a stockholder in said company, the amount of their judgment against said corporation. The case, as made by the parties for the consideration of the full Court, will be readily perceived from the opinion of the Court. The questions arising in the case were fully and ably argued by
1Opinion of the Court
The opinion of the Court was drawn up by
Davis, J.
In March, 1851, the plaintiffs recovered judgment against the Kennebec and Portland Railroad Company for the sum of $1900,38. The debt, which was the basis of this judgment, was contracted in 1855. The defendant was at that time, and ever since has been, a member of said company, owning twenty-two shares of the capital stock, of the nominal value of one hundred dollars each. The plaintiffs, being unable to find corporate property to satisfy their judgment, instituted proceedings against the defendant, as a stockholder, to render him personally…
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