Moore v. Lent
California Supreme Court
Appeal from a judgment of the Superior Court of the city and • county of San Francisco, and from an order denying a new trial. The facts are stated in the opinion of the court.
1Opinion of the CourtPaterson, J.
This action is based upon the following provision of the code: “ The directors of corporations must not .... create debts beyond the subscribed cap*503ital stock.....For a violation of the provisions of this section, the directors under whose administration the same may have happened (except those who may have caused their dissent therefrom to be entered at large upon the minutes of the directors at the time, or were not present when the same did happen) are in their individual and private capacity jointly and severally liable to the corporation, and to the creditors thereof in the event of its…
2Cited by10 opinions
- Moss v. SmithCalifornia Supreme Court · 1916
- Continental Supply Co. v. AbellMontana Supreme Court · 1933
- Continental Oil Co. v. Montana Concrete Co.Montana Supreme Court · 1922
- Cook v. Superior CourtCalifornia Court of Appeal · 1936
- Peterson v. BallCalifornia Supreme Court · 1931
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