St. Louis Carriage Manufacturing Co. v. Hilbert
Missouri Court of Appeals
Appeal from the St. Louis Circuit Court, George W. Lubke, Judge. A servant or agent can not pay Ms debt with his master’s or principal’s property. BertJiolf n. Quinlan, 68 111. 297; Story on Agency, sects. 413, 429, 430; Buck-waiter v. Craig, 55 Mo. 71; Greenwood n. Burns, 50 Mo. 52; Wharton on Agents, 210; Flannigan v. Alexander, 50, 51; Wheeler & Wilson n. Giran, 65 Mo. 89. A corporation can not reduce its stock by exchanging for it its property. St. Louis Go. -o.
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Appeal from the St. Louis Circuit Court, George W. Lubke, Judge. A servant or agent can not pay Ms debt with his master’s or principal’s property. BertJiolf n. Quinlan, 68 111. 297; Story on Agency, sects. 413, 429, 430; Buck-waiter v. Craig, 55 Mo. 71; Greenwood n. Burns, 50 Mo. 52; Wharton on Agents, 210; Flannigan v. Alexander, 50, 51; Wheeler & Wilson n. Giran, 65 Mo. 89. A corporation can not reduce its stock by exchanging for it its property. St. Louis Go. -o. Robinson, 82 Mo. 18; Gill n. Balls, 72 Mo. —-; Railroad n. Allerton, 18 Wall. 233; Corbin n. Greenlesse, 38 Ohio St. 275;…
1Opinion of the CourtRombauer, J.
The plaintiff is a manufacturing company, incorporated under the general laws of this state, with a ■capital stock of five thousand dollars^ divided into fifty *340shares of one hundred dollars par value. March 21, 1885, it issued a certificate for two full paid shares, to one Henry Appel, its superintendent, who immediately thereafter indorsed the same in blank and delivered them to the defendant Hilbert, as security for a loan of two hundred dollars, then made by Appel of Hilbert.
Matters remained in this condition until the twenty-seventh day of July, 1885, except that Appel in the meantime had…
2Cases cited3 opinions
- Bradley v. BallardIllinois Supreme Court · 1870
- Wheeler & Wilson Manufacturing Co. v. GivanSupreme Court of Missouri · 1877
- Benny v. RhodesSupreme Court of Missouri · 1853
3Cited by12 opinions
- Maryland Trust Co. v. National Mechanics BankCourt of Appeals of Maryland · 1906
- Botz v. HelveringCourt of Appeals for the Eighth Circuit · 1943
- Wilson v. Torchon Lace & Mercantile Co.Missouri Court of Appeals · 1912
- Townsend v. Maplewood Investment & Loan Co.Supreme Court of Missouri · 1943
- Bowman Dairy Co. v. MooneyMissouri Court of Appeals · 1890
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