New York & Oswego Midland Railroad v. Van Horn
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court of the third judicial department, reversing a judgment in favor of plaintiff-entered upon the decision of the court at Special Term and granting a new trial. This action was brought to recover a subscription of $200 alleged to have been made by defendant to plaintiff’s stock. The defence mainly relied on was, that ten per cent of the subscription had not been paid. The facts appear sufficiently in the opinion.
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Appeal from order of the General Term of the Supreme Court of the third judicial department, reversing a judgment in favor of plaintiff-entered upon the decision of the court at Special Term and granting a new trial. This action was brought to recover a subscription of $200 alleged to have been made by defendant to plaintiff’s stock. The defence mainly relied on was, that ten per cent of the subscription had not been paid. The facts appear sufficiently in the opinion. Defendant is estopped from denying or proving that he had not paid the ten per cent for the purpose of rendering his…
1Opinion of the Court
Earl, C.
The defendant, in September, 1867, subscribed for two shares of the stock of plaintiff, and agreed to pay the sum of $200, the par value thereof, when called upon to do so by plaintiff’s directors. The subscription paper contained a declaration that he had paid down ten per cent at the time of subscribing. In fact, he never paid anything upon the subscription, and the sole question for us to determine is, whether, upon such a state of facts, the plaintiff can maintain this action. It is provided in the general railroad act (Laws of 1850, chap. 140, § 4), that “ at the time of…
2Cases cited9 opinions
- Shapley v. . AbbottNew York Court of Appeals · 1870
- Varick v. Smith & The Attorney GeneralNew York Court of Chancery · 1835
- Cochran v. Van SurlayNew York Supreme Court · 1838
- People v. Supervisors of the County of ColumbiaNew York Supreme Court · 1833
- Palmer v. Conly & JohnsonNew York Supreme Court · 1847
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3Cited by87 opinions
- People v. . O'BrienNew York Court of Appeals · 1888
- In Re the Transfer Tax Upon the Estate of PellNew York Court of Appeals · 1902
- Erbe v. Lincoln Rochester Trust Co.Appellate Division of the Supreme Court of the State of New York · 1961
- Willcox v. EdwardsCalifornia Supreme Court · 1912
- Germania Savings Bank v. Village of Suspension BridgeNew York Court of Appeals · 1899
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