Memphis Branch Railroad v. Sullivan
Supreme Court of Georgia
Corporations. Contracts. Stock. Before Judge McCutchen. Floyd Superior Court. January Adjourned Term, 1876. Reported in the opinion.
1Opinion of the Court
Jackson, Judge.
This was a suit brought on several assessments of stock subscribed by Sullivan for the purpose of building a railroad from Rome to the Alabama line, and to connect with certain roads in that state. It appears from the record that the charter required a subscription of $500,000 00 before it was operative; that-this sum was not subscribed originally and was afterwards reduced still more, one subscription, a mere nominal one, for $250,000 00 having been released by the company, and even with that counted, it is clear that the whole subscription never reached $500,000 00. The…
2Cited by13 opinions
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- Bing v. Bank of KingstonCourt of Appeals of Georgia · 1909
- Felton v. Highlands Hotel Co.Supreme Court of Georgia · 1928
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