Lester v. Bemis Lumber Co.
Supreme Court of Arkansas
Appeal from Nevada Circuit Court in Chancery. Joel L. Conway, Judge. STATEMENT BY THE COURT. On the 5th day of February, 1895, the firm of Lester & Haltom recovered a judgment in Bowie county, Texas, against the Bemis Lumber Company, a Texas corporation, for the sum of $232.75 and $10 for costs. An execution was issued on the judgment, which was never returned.
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Appeal from Nevada Circuit Court in Chancery. Joel L. Conway, Judge. STATEMENT BY THE COURT. On the 5th day of February, 1895, the firm of Lester & Haltom recovered a judgment in Bowie county, Texas, against the Bemis Lumber Company, a Texas corporation, for the sum of $232.75 and $10 for costs. An execution was issued on the judgment, which was never returned. Lester & Haltom on the 12th of February, 1900, began an action in this state against the same company to subject certain property, which they alleged belonged to the company, to the satisfaction of their judgment. 'Afterwards, on July…
1Opinion of the Court
Eiddick, J.,
(after stating the facts). This is an action in equity by Lester & Haltom, creditors of the Bemis Lumber Company, an insolvent Texas corporation, to compel two resident stockholders of that company to account for and pay over sums alleged to be due from them on subscriptions for stock.
The first question presented is whether the action of plaintiffs is barred by the statute of limitations. The general rule is that, before a creditor of a corporation can maintain an action against a stockholder of the corporation to compel him to pay money due on his subscription, he must first…
2Cases cited3 opinions
- De La Vergne Refrigerating MacHine Co. v. German Savings InstitutionSupreme Court of the United States · 1899
- Fletcher v. Bank of LonokeSupreme Court of Arkansas · 1902
- Euclid Avenue National Bank v. JudkinsSupreme Court of Arkansas · 1899
3Cited by5 opinions
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- Spencer v. AndersonCalifornia Supreme Court · 1924
- Sherman v. S. K. D. Oil Co.California Supreme Court · 1921
- Davis v. ScottSupreme Court of Arkansas · 1917
- Fox v. Republic National Life InsuranceSupreme Court of Arkansas · 1942