Thompson v. Young
Ohio Supreme Court
This case was reserved from Muskingum county. It was a bill in chancery to compel contribution, upon the following state of facts: In the year 1811, the Bank of Muskingum was incorporated, the charter to continue from its passage until January 1, 1818. The company was duly organized under this charter, and D. J. Marple appointed cashier.
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This case was reserved from Muskingum county. It was a bill in chancery to compel contribution, upon the following state of facts: In the year 1811, the Bank of Muskingum was incorporated, the charter to continue from its passage until January 1, 1818. The company was duly organized under this charter, and D. J. Marple appointed cashier. Isaac Vanhorn, Jeffrey Price, Samuel Thompson, and John M’lntire, executed with Marple, as securities, a bond in the penalty of twenty thousand dollars. And Marple proceeded to discharge the duties of cashier. Before January 1, 1818, the legislature passed a…
1Opinion of the Court
By the Court:
The authorities adduced by the defendants are conclusive that the securities were not bound for any defalcation that took place after the expiration of the first charter. And we hold them to be in accordance with the soundest principles of justice.
It is equally clear that the defendants can not be concluded by an adjudication in a case where they were not parties. The bill must be dismissed.
2Cited by1 opinion
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