Hodges & Wilson v. Silver Hill Mining Co.
Oregon Supreme Court
Appeal from Linn. The facts are given in the opinion. Contend that each stockholder of the corporation is liable to the extent of his stock subscribed and unpaid. (Constitution of Oregon, Article XI., section 3; 17 Ohio, 187.) The obligation is several as well as joint. (Masters, et al., v. Lead Mining Go., 2 Sanford’s Ch. R„ 301.) The decree should be against the respondents, or either of them, and leave them to enforce contributions among themselves.
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Appeal from Linn. The facts are given in the opinion. Contend that each stockholder of the corporation is liable to the extent of his stock subscribed and unpaid. (Constitution of Oregon, Article XI., section 3; 17 Ohio, 187.) The obligation is several as well as joint. (Masters, et al., v. Lead Mining Go., 2 Sanford’s Ch. R„ 301.) The decree should be against the respondents, or either of them, and leave them to enforce contributions among themselves. (31 Barb., 84; Barbour on Parties, 476; 7 N. Y., 147; Abbott’s Digest of Law of Corporations, 396; 17 N. Y., 458.) Stockholders are liable…
1Opinion of the Court
By the Court,
Lord, C. J.:
This is a suit in equity, to fix the liability and recover the amount of a certain indebtedness, against the stockholders of the above-named corporation. The allegations of insolvency, and the amount of the capital stock subscribed and unpaid, are not denied, and, of course, stand admitted.
The court below found that the corporation was indebted as alleged; was without any means or property, and insolvent and unable to pay the same, and that the defendant stockholders each subscribed the sum of fifteen thousand dollars, which was unpaid, and’ rendered judgment against…
2Cases cited1 opinion
- Tillotson v. CheethamNew York Supreme Court · 1808
3Cited by25 opinions
- Security Savings & Trust Co. v. Portland Flour Mills Co.Oregon Supreme Court · 1927
- Zang v. WyantSupreme Court of Colorado · 1898
- Aldrich v. Anchor Coal Co.Oregon Supreme Court · 1893
- Brundage v. Monumental Gold & Silver Mining Co.Oregon Supreme Court · 1885
- Garetson Lumber Co. v. HinsonOregon Supreme Court · 1914
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