Bicknell v. Altman

Several stockholders of a Kansas corporation which was organized in 1905 guaranteed its notes, and on its default were compelled to pay them. The corporation being insolvent, its affairs were wound up by a receiver. Some of the stockholders, including the guarantors of the notes, voluntarily contributed an amount equal to their stock to increase the fund from which the corporate debts were to be paid. The assets of the corporation, with this increase, being insufficient to meet its obligations, the guarantors brought action against the stockholders who had refused to make any such…