Dickinson County Hospital Co. v. Kessinger

The opinion of the court was delivered by

Hutchison, J.:

The issue involved in this appeal is whether the written instrument attached to the bill of particulars as the basis of this action is a subscription to the capital stock of a newly formed corporation or a note promising to pay the purchase price of such stock.

The defendant in his answer admitted the execution of the instrument, but alleged it was a note given in payment for five shares of dividend-paying stock of the plaintiff corporation, the Dickinson County Memorial Hospital Company, a corporation completely organized and for profit,…