Crocker v. Gentry

This court has upon many occasions dealt with the problem whether a creditor, receiver or trustee of a corporation who undertakes to enforce a stockholder’s liability upon the latter’s unpaid subscription to the capital stock may resort to a court of equity or is possessed of an adequate and appropriate remedy at law. The considerations historically which influenced courts of equity to assume jurisdiction in situations analogous to that before us are dealt with exhaustively by Professor Langdell in 4 Harvard Law Review, 99; the article is entitled “Creditor’s Bills”; see, also, Creditor’s…