Emery v. Wason
Massachusetts Supreme Judicial Court
Bill in equity by the executors of the will of Thomas W. Wason. The case, as appeared from the bill and answers, on which it was reserved by the chief justice for the determination of the full court, was as follows: Thomas W. Wason, by his will made May 3,1870, in his last sickness, gave to his son George T. Wason “the income of my Boston & Albany Railroad stock during his life, the principal of said stock to be held by my executors during his life, and at his decease I give…
Read the full summary
Bill in equity by the executors of the will of Thomas W. Wason. The case, as appeared from the bill and answers, on which it was reserved by the chief justice for the determination of the full court, was as follows: Thomas W. Wason, by his will made May 3,1870, in his last sickness, gave to his son George T. Wason “the income of my Boston & Albany Railroad stock during his life, the principal of said stock to be held by my executors during his life, and at his decease I give the same to his child or children who may survive him.” He gave several other legacies, specific and pecuniary, but did…
1Opinion of the CourtAmes, J.
By the act of subscribing for new shares in the stock of the railroad corporation, the testator became entitled to have them allotted to him, and to have them stand in his name on their books. No conveyance from the corporation was necessary to his title. By the same act he also made himself hable to the corporation for all lawful assessments; and by the terms of the statute that liability could he enforced by forfeiture and sale of the shares, leaving him personally hable for the deficiency, if the shares so forfeited should not sell for a sum sufficient to pay his assessments with interest…
2Cited by3 opinions
- Gorham v. ChadwickSupreme Judicial Court of Maine · 1938
- In re Quin's EstateNew York Surrogate's Court · 1889
- In re the judicial settlement of the account of DodgeNew York Surrogate's Court · 1889