Sargent v. Waterbury
Oregon Supreme Court
From Multnomah: Robert Gr. Morrow, Judge. Department 1. Statement by Mr. Justice Benson. This is a suit by the superintendent of banks in his official capacity in behalf of the creditors of the American Bank & Trust Company of Portland, to recover from certain stockholders upon their liability for unpaid stock subscriptions.
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From Multnomah: Robert Gr. Morrow, Judge. Department 1. Statement by Mr. Justice Benson. This is a suit by the superintendent of banks in his official capacity in behalf of the creditors of the American Bank & Trust Company of Portland, to recover from certain stockholders upon their liability for unpaid stock subscriptions. The complaint, after some formal allegations, proceeds as follows: (4) “That on or about the 18th day of December, 1911, plaintiff, upon examination of said American Bank & Trust Company, in his capacity as superintendent of banks of the State of Oregon, found the same to…
1Opinion of the CourtJustice Benson
1. At the outset it is observed that the only purpose of the allegation of . fraud in the complaint is to meet the provision of Section 6696, L. O. L., relating to the conclusiveness of the valuation by directors of property taken in payment of stock subscriptions, and, therefore, the legal principles applicable to the case are not in any manner to be distinguished from those applicable in any other case where the' individual liability of stockholders is sought to be enforced. The question to be considered is the sufficiency of the complaint as against a general demurrer. Defendants contend…
2Cases cited8 opinions
- Sargent v. American Bank & Trust Co.Oregon Supreme Court · 1916
- Mann v. . PentzNew York Court of Appeals · 1850
- Hodges & Wilson v. Silver Hill Mining Co.Oregon Supreme Court · 1881
- Ladd & Bush v. CartwrightOregon Supreme Court · 1879
- Affierbach v. McGovernCalifornia Supreme Court · 1889
3 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- State v. HarrisOregon Supreme Court · 1980
- Commissioner of Banks v. Prudential Trust Co.Massachusetts Supreme Judicial Court · 1922
- Kelly v. TracyOregon Supreme Court · 1956
- Hanson v. SoderbergWashington Supreme Court · 1919
- McKenzie v. EvansMontana Supreme Court · 1934
7 more not listed; retrieve them via the Exa API.