Piper v. Hayward

This action is brought to establish and foreclose a lien on forty-five shares of the defendant’s intestate in the corporation of Johnson, Hayward & Piper, of the par value of $4,500, claimed to he held by the plaintiff as collateral security for the payment of the note of defendant’s intestate of $4,500. It appears that the plaintiff and the defendant’s intestate were officers of the corporation known as Johnson, Hayward & Piper; that in September, 1902, at a meeting of the hoard of directors a resolution was passed providing for the issuance of ninety shares at par, aud an entry in the…