Long v. Symonds

The consideration for the note in suit was the sale and transfer of shares of stock in a Maine corporation, from the plaintiff in his individual capacity as a stockholder, to the makers, Symonds and Lea. At the time when the shares were transferred and the note was given, the charter of the corporation had been suspended for about one month for nonpayment of taxes, by virtue of the provisions of c. 127 of the Public Laws of 1909 of the State of Maine. The entire transaction between the parties took place in this Commonwealth; and the fact of the suspension of the charter was not known to…