Foote v. Greilick
Michigan Supreme Court
Error to Grand Traverse; Mayne, J. Assumpsit by William O. Eoote, as trustee in bankruptcy of the estate of the Traverse City Motor Boat Company, against Clarence L. Greilick on a stock subscription. A judgment for plaintiff on a verdict directed by the court is reviewed by defendant on writ of error.
1Opinion of the CourtOstrander, C. J.
The plaintiff, a trustee in bankruptcy of the estate of the Traverse City Motor Boat Company, a corporation, and an adjudicated bankrupt, brought this action against one of its stockholders, who was also a director, upon an alleged subscription for stock. He defended in the circuit court upon the ground that said subscription was not a legal obligation against him, and has appealed from a directed verdict. There is little dispute about the facts.
This corporation was organized in 1905 with an authorized capital of $10,000. Only 919 shares of this stock were issued, and of these 120, issued to…
2Cases cited3 opinions
- Handley v. StutzSupreme Court of the United States · 1891
- Schenectady and Saratoga Plank Road Co. v. . ThatcherNew York Court of Appeals · 1854
- Stutz v. HandleyU.S. Circuit Court for the District of Middle Tennessee · 1890
3Cited by5 opinions
- First Mortgage Bond Homestead Ass'n v. BakerCourt of Appeals of Maryland · 1929
- Voorhies v. WalkerMichigan Supreme Court · 1924
- Schwemer v. FryWisconsin Supreme Court · 1933
- Campbell v. RavenMichigan Supreme Court · 1913
- Missouri Valley Grocery Co. v. HallNorth Dakota Supreme Court · 1920