Price v. Lester M. Bloch Building & Loan Ass'n

Kun, J.,

This is a rule for judgment for want of a sufficient affidavit of defense. The broad question involved is whether a defendant building and loan association may avoid the entry of judgment against it in a suit by a withdrawing stockholder for the withdrawal value of his shares, by the contention that it is not in a liquid position and that if required to pay withdrawing stockholders it would have a “strong tendency” to cause insolvency of the association, though at the same time the defendant admits and reasserts that it is in fact solvent. Whether the facts disclosed would be a basis…