Mitchell v. Porter

R. T. Stuart and Coke W. Harkrider, doing business as partners under the firm name and style of Commonwealth Organization Company, undertook, as promoters, to organize a corporation to be known as the Casualty Bonding & Accident Insurance Company, to be incorporated under the laws of the state of Texas, with an authorized capital stock of $300,000, and a paid-up capital of at least $200,000, free from organization expenses. The promoters planned to charge' each subscriber for stock a certain bonus to go to them as expenses for organizing the corporation and securing a charter necegsary to do…