Harris v. Gateway Land Co.
Supreme Court of Alabama
Appeal from the Chancery Court of Morgan. Heard before the Hon. William H. Simpson, The bill in this case was filed on October 1, 1896, by 'the appellants, C. O. Harris and John H. Shelfey, as trustees, against the Gateway Land Company,' alleged to be a corporation duly incorporated under the general laws of the State of Alabama, and E. C. Payne and certain- named persons alleged to be stockholders in said corporation.
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Appeal from the Chancery Court of Morgan. Heard before the Hon. William H. Simpson, The bill in this case was filed on October 1, 1896, by 'the appellants, C. O. Harris and John H. Shelfey, as trustees, against the Gateway Land Company,' alleged to be a corporation duly incorporated under the general laws of the State of Alabama, and E. C. Payne and certain- named persons alleged to be stockholders in said corporation. It was averred in the bill -that on October 1, 1887, E. C. Gordon, Milton Humes and George E. Crane-sold and ■ conveyed to the Gateway Land Company certain lands specifically…
1Opinion of the CourtHaralson, J.
1. The Code, section 823, provides, that “A judgment creditor of a corporation having an execution returned 'no property found/ may, by bill in equity subject to the payment of his judgment, the unpaid subscription of one or more stockholders in such corporation, without joining the other stockholders, and without regard to whether the corporation has called for such subscription, or could maintain suit therefor against the stockholder.” The act of which this section is a codification was approved 18th February, 1895.
This case, without reference to special defenses set up 'against its equity,…
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