Booth v. Dear
Wisconsin Supreme Court
Appeal, from an order of the superior court of Douglas county: Chas. Smith, Judge. This action was brought to enforce the statute liability of stockholders of the defendant the Douglas County Bank.
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Appeal, from an order of the superior court of Douglas county: Chas. Smith, Judge. This action was brought to enforce the statute liability of stockholders of the defendant the Douglas County Bank. The plaintiff, complaining on behalf of himself and of creditors of the bant who might wish to become parties to the action, alleged that the defendant corporation, during all the times mentioned in the complaint, had been a duly organized banking corporation, under the laws of the state of Wisconsin; that its capital stock was $50,000; that on the 27th day of May, 1895, it made an assignment for…
1Opinion of the CourtMaeshall, J.
It is contended on the part of appellants that proceedings to enforce the statutory liability of the stockholders of a banking corporation to its creditors cannot be resorted to till the franchise of the corporation is forfeited and its assets are exhausted; that the complaint in this action does not show such facts in respect to the defendant bank, but, on the contrary, shows a considerable amount of property in the hands of its assignee in trust for creditors; hence that the requisite facts do not appear to make out a good cause of action against the stockholders.
The general principles…
2Cases cited7 opinions
- Coleman v. WhiteWisconsin Supreme Court · 1862
- Sleeper v. GoodwinWisconsin Supreme Court · 1887
- Cleveland v. BurnhamWisconsin Supreme Court · 1885
- Cleveland v. Marine Bank of MilwaukeeWisconsin Supreme Court · 1863
- Merchants' Bank v. ChandlerWisconsin Supreme Court · 1865
2 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Boyd v. Mutual Fire Ass'nWisconsin Supreme Court · 1903
- Foster v. RowMichigan Supreme Court · 1899
- Killen v. BarnesWisconsin Supreme Court · 1900
- Eau Claire National Bank v. BensonWisconsin Supreme Court · 1900
- Gager v. MarsdenWisconsin Supreme Court · 1899
9 more not listed; retrieve them via the Exa API.