Illinois River Railroad v. Beers & Sims
Illinois Supreme Court
This was an action for subscription to the capital stock of plaintiff’s corporation, on the part of the defendants, as partners. The third count of the declaration was a general count upon the subscription, alleging that the defendants, on the first day of January, 1860, were indebted to the plaintiff in the sum of $500 for moneys due and owing on account of five shares of stock held by them in said corporation, and by virtue of divers calls made thereon before that time.
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This was an action for subscription to the capital stock of plaintiff’s corporation, on the part of the defendants, as partners. The third count of the declaration was a general count upon the subscription, alleging that the defendants, on the first day of January, 1860, were indebted to the plaintiff in the sum of $500 for moneys due and owing on account of five shares of stock held by them in said corporation, and by virtue of divers calls made thereon before that time. The general issue was pleaded, with leave to give in evidence special matter. Upon the trial, the plaintiff gave in…
1Opinion of the CourtBreese, J.
The defendants, by their subscription to the capital stock of the Illinois River Railroad Company, expressly agreed “to be subject to the rules and regulations which might, from time to time, be made by the corporation or directors of the company. By the original charter of the company, granted Feb. 11, 1853—(Session Laws 1853, page 53)—ninety days’ notice of calls on stock subscriptions was required. (Sec. 14.)
This charter was amended by the act of January 29, 1857 —(Session' Laws, page 105)—the twelfth section of which provides that twenty days’ notice shall be sufficient for such calls,…
2Cited by1 opinion
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