Cooke v. Pomeroy
Supreme Court of Connecticut
Action to recover the amount of two stock notes held by the plaintiffs as receivers of the Continental Life Insurance Co., brought to the Superior Court in Hartford County and tried to the court, Shumway, J.; facts found and judgment rendered for the plaintiffs, and appeal by the defendant for alleged errors in the rulings of the court.
Read the full summary
Action to recover the amount of two stock notes held by the plaintiffs as receivers of the Continental Life Insurance Co., brought to the Superior Court in Hartford County and tried to the court, Shumway, J.; facts found and judgment rendered for the plaintiffs, and appeal by the defendant for alleged errors in the rulings of the court. The charter of the company, granted in 1862, provided that within twenty days after its organization, thirty per cent of the subscriptions to its capital stock must be paid in, and the remainder “ secured to be paid ” by real estate mortgage or indorsed notes,…
1Opinion of the CourtBaldwin, J.
When the defendant signed one of the notes in suit and indorsed the other, she did so knowing that they represented the amount unpaid upon the original subscriptions to certain shares of stock in the Continental Life Insurance Co. Part of that stock she then owned herself, and upon it she subsequently received dividends. The corporation retained the notes, without making any demand upon them, for thirteen years, and until it became insolvent. During this time they constituted part of its assets, and must have been returned as such in its annual statements to the insurance commissioner.…
2Cases cited4 opinions
- Palmer v. PalmerMichigan Supreme Court · 1877
- Lockwood v. CrawfordSupreme Court of Connecticut · 1847
- City Savings Bank v. HopsonSupreme Court of Connecticut · 1885
- Protection Insurance v. BillSupreme Court of Connecticut · 1863
3Cited by5 opinions
- Curtis v. SmithSupreme Court of Connecticut · 1903
- Connecticut Co. v. City of New HavenSupreme Court of Connecticut · 1925
- Oley v. MillerSupreme Court of Connecticut · 1901
- Morrison v. FrantzWest Virginia Supreme Court · 1928
- Blatchford v. HarrisAppellate Court of Illinois · 1904