Home Stock Insurance v. Sherwood
Supreme Court of Missouri
Appeal from Buchanan Circuit Court. — Hon. Jos. P. Grubb, Judge. 1. Respondent having given the note and mortgage to the appellant, is estopped from denying the existence of appellant as a corporation. Angelí & Ames on Corp., (9 Ed.) § 635. 2. Respondent has had the benefit of the money paid by his securities, and now seeks by this defense to destroy the value of said certificate, which they received of him as their indemnity.
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Appeal from Buchanan Circuit Court. — Hon. Jos. P. Grubb, Judge. 1. Respondent having given the note and mortgage to the appellant, is estopped from denying the existence of appellant as a corporation. Angelí & Ames on Corp., (9 Ed.) § 635. 2. Respondent has had the benefit of the money paid by his securities, and now seeks by this defense to destroy the value of said certificate, which they received of him as their indemnity. It would be inequitable and unjust to let the respondent keep the .land after having enjoyed the money. 3. It is true that the company resolved to go into liquidation…
1Opinion of the CourtHough, J.
The plaintiff was organized as an insurance company, other than life, in February, 1870, under an act of the general assembly approved March 10th, 1869. The capital stock of the company was $100,000, divided inte shares of $100 each. Section 15 of the act provided that a company formed on the joint stock plan for the purpose of doing either of the kinds of business mentioned in the 1st section, should not commence to do business if the capital of said company named in the charter should be less than $200,000, until the whole should have been subscribed, and $50,000 paid in, and that the…
2Cases cited1 opinion
- Central Plank Road Co. v. ClemensSupreme Court of Missouri · 1852
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- Commerce Trust Co. v. HettingerMissouri Court of Appeals · 1914