Putnam v. Misochi
Massachusetts Supreme Judicial Court
Bill in equity, filed as substituted by leave of court on June 5, 1900, by a stockholder of the Blackman Book Sewing Machine Company, a corporation organized under the laws of the State of Maine, who had been forced to pay a judgment against that corporation, as stated in the opinion, against other stockholders of that corporation, for contribution.
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Bill in equity, filed as substituted by leave of court on June 5, 1900, by a stockholder of the Blackman Book Sewing Machine Company, a corporation organized under the laws of the State of Maine, who had been forced to pay a judgment against that corporation, as stated in the opinion, against other stockholders of that corporation, for contribution. In the Superior Court the case was heard by Fessenden, J., who found certain facts, which are stated sufficiently in the opinion, and reserved the case for determination by this court, such decree to be entered as equity and justice might require.
1Opinion of the CourtKnowlton, C. J.
This is a bill in equity brought against certain stockholders of a corporation organized under the laws of Maine, to obtain contribution towards the payment of a judgment against the corporation, made by the plaintiff, under a liability created by the statutes of that State. The plaintiff failed to make full payment for his subscription to the capital stock of the corporation, and was therefore liable for the corporate debts, under the Rev. Sts. of Maine, c. 46, §§ 37, 38, 44, 45, 46 and 47, to an amount equal to the sum left by him unpaid. For the same reason each of the defendants was…
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