Langer v. Wood

This action is based on section 3 of article XII of the Constitution and section 322 of the Civil Code (as of April, 1929) for the recovery of stockholders’ liability. Judgment went for plaintiff.

The one point raised on appeal may be simply stated and its solution needs no detail as to facts. That point is: Are those who subscribed for stock prior to but in contemplation of incorporation, and who are named in the articles of incorporation as such subscribers, stockholders of the corporation under the stockholders’ liability law between the date of incorporation and the date of issuance of the…