Rutland & Burlington Railroad v. Thrall
Supreme Court of Vermont
Assumpsit to recover certain unpaid assessments upon the defendant’s subscription for twenty shares of the capital stock of the plaintiff’s corporation, then known by the name of the Champlain and Connecticut River Railroad Company.
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Assumpsit to recover certain unpaid assessments upon the defendant’s subscription for twenty shares of the capital stock of the plaintiff’s corporation, then known by the name of the Champlain and Connecticut River Railroad Company. Plea, the general issue, and trial by jury, at the September Term, 1860, Pierpoint, J., presiding. * The plaintiffs proved their incorporation and organization, and also the subscription of the defendant for twenty shares of the capital stock, as set forth in the declaration. By this subscription the defendant and the other signers severally agreed 'to take the…
1Opinion of the CourtAldis, J.
I. Tho first point made by the defendant is' that the subscription is void on account of the fourth condition contained in it, which provides that “ interest shall be allowed and paid by the company on all sums assessed and paid, from the time of payment until the railroad shall' be put in operation.” It is claimed that this condition is in substance an agreement by the company to pay back to the subscribers a part of the capital stock required by the charter, and therefore that the amount required in order to organize the company was not in fact subscribed ; that the charter requires a…
2Cases cited5 opinions
- Danbury & Norwalk Railroad v. WilsonSupreme Court of Connecticut · 1852
- Penobscot Railroad v. DummerSupreme Judicial Court of Maine · 1855
- Moore v. Hudson River RailroadNew York Supreme Court · 1851
- Chase v. ElkinsSupreme Court of Vermont · 1829
- Essex Bridge Co. v. TuttleSupreme Court of Vermont · 1830
3Cited by18 opinions
- Kent v. . Quicksilver Mining Co.New York Court of Appeals · 1879
- Savannah Real Estate, Loan & Building Co. v. SilverbergSupreme Court of Georgia · 1899
- Hinckley v. Schwarzschild & Sulzberger Co.Appellate Division of the Supreme Court of the State of New York · 1905
- Mandel v. Swan Land & Cattle Co.Illinois Supreme Court · 1895
- Chaffee v. Rutland RailroadSupreme Court of Vermont · 1882
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