Richardson v. Treasure Hill Mining Co.
Utah Supreme Court
Appeal from the Third District Court, Salt Lake County.— Hon. Ogden Hiles, Judge. Action against" defendant company and its stockholders to subject the stockholders to a personal liability for stock subscriptions. From a judgment for plaintiff, defendants appealed.
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Appeal from the Third District Court, Salt Lake County.— Hon. Ogden Hiles, Judge. Action against" defendant company and its stockholders to subject the stockholders to a personal liability for stock subscriptions. From a judgment for plaintiff, defendants appealed. We hold and confidently assert that the Incorporation Law by its terms permits mining property to be used at a fairly estimated value in payment for stocks, and that no subsequent change of conditions, no revision of judgment, can render unpaid that which was once fully paid. There are two theories which have been set forth by the…
1Opinion of the Court 1
A statement of the case as above having been made,
2Opinion of the Court · BaetchBaetch, J.
Owing to the great importance of the question presented in this record, we have concluded to reject the several technical objections made against the consideration of this- case upon this appeal, and to render a decision upon the merits.
It is insisted for the appellants that the plaintiff is entitled to no relief, and that the court erred in holding that, under the evidence, the stockholders are'liable for the debts of the corporation.
The respondent contends that the shareholders are liable, under our Constitution and statutes for an amount…
3Cases cited13 opinions
- Handley v. StutzSupreme Court of the United States · 1891
- Coit v. Gold Amalgamating Co.Supreme Court of the United States · 1886
- Douglass v. . IrelandNew York Court of Appeals · 1878
- Young v. Erie Iron Co.Michigan Supreme Court · 1887
- Bank of Fort Madison v. AldenSupreme Court of the United States · 1889
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4Cited by12 opinions
- State v. HoustonUtah Supreme Court · 2015
- Ravarino v. PriceUtah Supreme Court · 1953
- State v. NavaroUtah Supreme Court · 1933
- In Re YoungUtah Supreme Court · 1999
- Zimmerman v. Univ. of Utah & Dr. William McMahonUtah Supreme Court · 2018
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