Bank of Poughkeepsie v. Ibbotson
New York Supreme Court
Demurrer to declaration. The plaintiffs in their declaration, stated that on the 9th January, 1839, a certain corporation for manufacturing purposes, known as “ The New York Stock Frame and Cotton Manufacturing Company,” had been incorporated pursuant to the act entitled “ An act relative to incorporations for manufacturing purposes,” passed 22d March, 1811, and the amendments thereto, and as such was doing business at the town of Poughkeepsie, in the county of Dutchess, and…
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Demurrer to declaration. The plaintiffs in their declaration, stated that on the 9th January, 1839, a certain corporation for manufacturing purposes, known as “ The New York Stock Frame and Cotton Manufacturing Company,” had been incorporated pursuant to the act entitled “ An act relative to incorporations for manufacturing purposes,” passed 22d March, 1811, and the amendments thereto, and as such was doing business at the town of Poughkeepsie, in the county of Dutchess, and afterwards and before the commencemnt of this suit, to wit, on the 2Qth day of June, in the year aforesaid, when the…
1Opinion of the Court
By the Court,
Nelson, Ch. J.
The principal question sought to be presented in this case is, whether an action at law will lie to charge the stockholder personally under the act.
The seventh section provides, that for all debts due and owing by. the company at the time of its dissolution, the persons then composing it shall be individually responsible to the extent of their respective shares of stock. 3 R. S. 222. It has been repeatedly held that the dissolution here spoken of, in order to subject the shareholder, may be shown short of judicial proceedings for that purpose. Having ceased to act,…
2Cases cited1 opinion
- Hook v. WhitlockNew York Court of Chancery · 1831
3Cited by7 opinions
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- Shafer v. MoriartyIndiana Supreme Court · 1874
- Hall v. HallSupreme Court of Kansas · 1927
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