Simmons v. Dent
Missouri Court of Appeals
Appeal from the St. Louis Circuit Court, Horner, J. Power to become a stockholder, ex vi termini, imports power to assume the liability of a stockholder. As applied to persons sui juris, the rule is that a subscription for stock or an acceptance of shares imports a promise to pay calls. — Thompson on Stockholders, sect. 105; Upton v. Tribilcock, 91 U. S. 48; /Sangerv.
Read the full summary
Appeal from the St. Louis Circuit Court, Horner, J. Power to become a stockholder, ex vi termini, imports power to assume the liability of a stockholder. As applied to persons sui juris, the rule is that a subscription for stock or an acceptance of shares imports a promise to pay calls. — Thompson on Stockholders, sect. 105; Upton v. Tribilcock, 91 U. S. 48; /Sangerv. Upton, 91 U. S. 64; Brigham v. Mead, 10 Allen, 245. The savings bank act (Gen. Stats. 1865, p. 366, sect. 14), while permitting married women to “ become stockholders,” declares no exemption from liability in their favor;…
1Opinion of the CourtBakewell, J.
This is a motion by a judgment creditor of the Butchers and Drovers’ Bank, for execution against the defendant as a stockholder in that corporation. Defendant resists recovery on the ground that he has long since transferred his stock to his wife Ann Amanda Dent, and is no longer liable thereon. The case was submitted on an agreed statement of facts, and the court below sustained the plaintiff’s motion, and ordered execution to issue against defendant for $1,500. Defendant in due time and manner excepted to the rulings of the court, and preserved his exceptions, and now brings the case to…
2Cases cited8 opinions
- In the Matter of the Reciprocity BankNew York Court of Appeals · 1860
- McClaren v. FranciscusSupreme Court of Missouri · 1869
- Palmer v. LawrenceThe Superior Court of New York City · 1849
- Miller v. BrownSupreme Court of Missouri · 1871
- Clark v. National BankSupreme Court of Missouri · 1870
3 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Motley v. MotleyMissouri Court of Appeals · 1902
- Banta v. HubbellMissouri Court of Appeals · 1912