Kesner v. World's Fair Hippodrome, Amusement, Ballet, Pantomime & Fireworks Co.
Appellate Court of Illinois
Garnishment Proceeding.—Appeal from the Superior Court of Cook County; the Hon. Jonas Hutchinson, Judge, presiding. Heard in this court at the October term, 1895. Statement oe the Oase.
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Garnishment Proceeding.—Appeal from the Superior Court of Cook County; the Hon. Jonas Hutchinson, Judge, presiding. Heard in this court at the October term, 1895. Statement oe the Oase. At the July term, 1893, of the Superior Court of Cook County, Winternitz and Eisner obtained a judgment against the World’s Fair Hippodrome, Amusement, Ballet, Pantomime and Fireworks Company of Chicago for §500 and costs of suit, upon which execution was issued and returned “No property found.” November 11, 1893, garnishment proceedings, based upon the aforesaid judgment, were begun against appellant for the…
1Opinion of the CourtJustice Waterman
The testimony of appellant shows him to have been a subscriber for ten shares of stock.
Courts incline, without reference to formality, where the intent to become a subscriber is manifested, to hold that the contract of subscription subsists. Cook on Stock & Stockholders, etc., Vol. 1, Sec. 52.
Having thus become obligated, he could not, as against creditors of the corporation, be released by the mere consent of the company.
If appellant had, when informed that Stock had put his name down, repudiated such action, his position would have been very different.
Parties dealing with this corporation…
2Cases cited2 opinions
- Kern v. Chicago Co-operative Brewery Ass'nIllinois Supreme Court · 1892
- Kern v. Chicago Co-operative Brewing Ass'nAppellate Court of Illinois · 1891