Racine County Bank v. Ayers
Wisconsin Supreme Court
ERROR to the Circuit Court for Matine County. This action was brought to recover the amount of a railroad stock subscription.
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ERROR to the Circuit Court for Matine County. This action was brought to recover the amount of a railroad stock subscription. The complaint alleged that “ The Racine, Janesville & Mississippi Railroad Company” was incorporated by an act approved April 7,1852; that its name was changed to “ The Racine & Mississippi Railroad Company ” by an act approved March 31,1855; that on the 5th of July, 1855, said Racine & Mississippi Railroad Company had divers shares of its stock to sell, and on that day the defendant agreed with said company, by the name of “ The Eacine, Janesville & Mississippi…
1Opinion of the Court
By the Court,
Paine, J.
Most of the questions presented in this case have already been determined by this The validity of conditional stock subscriptions, was assumed J L 1 by the court in the case of The Fox River Valley Railroad Co. vs. Shoyer, 7 Wis., 365; and it was expressly sustained in the case of The Milwaukee and N. I. R. R. Co. vs. Field, argued at the last term. Undoubtedly there might be a condition annexed to such a subscription, which, from its peculiar character, might make the agreement void, as against public policy. But if the condition itself has no such character, the mere…
2Cases cited5 opinions
- Hughes v. EdwardsSupreme Court of the United States · 1824
- Medway Cotton Manufactory v. AdamsMassachusetts Supreme Judicial Court · 1813
- New-York African Society for Mutual Relief v. VarickNew York Supreme Court · 1816
- President of the Berks & Dauphin Turnpike Road v. MyersSupreme Court of Pennsylvania · 1820
- Fox River Valley Railroad v. ShoyerWisconsin Supreme Court · 1859
3Cited by6 opinions
- Pacific Railroad v. SeelySupreme Court of Missouri · 1870
- Cobb v. Wm. Kenefick Co.Supreme Court of Oklahoma · 1909
- Southard v. Arkansas Valley & W. Ry. Co.Supreme Court of Oklahoma · 1909
- McCowen v. PewCalifornia Supreme Court · 1908
- Supervisors of Portage v. Wisconsin Central RailroadMassachusetts Supreme Judicial Court · 1877
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