Cumberland Valley Railroad v. Baab
Supreme Court of Pennsylvania
ERROR to the common pleas of Dauphin county. The President, Managers and Company of the Cumberland Valley Railroad Company against Jacob Baab.
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ERROR to the common pleas of Dauphin county. The President, Managers and Company of the Cumberland Valley Railroad Company against Jacob Baab. This action was brought to recover from defendant the sum of 50 dollars, under the following circumstances: Upon the 2d day of April 1831, an act was passed entitled an, act to incorporate the Cumberland Valley Railroad Company, which act authorized the commissioners therein named to receive subscriptions to the capital stock of the company, in the manner and form therein specified, each subscriber promising to pay 50 dollars for each share subscribed…
1Opinion of the Court
*460The opinion of the court was delivered by
Gibson, C. J.
The decision in the Hibernia Turnpike v. Henderson turned on the construction of a statute. The contract of subscription was regulated by the act of incorporation, in the interpretation of which, it was held that the public interest was so much concerned in the scheme that prompt payment of the instalment which was required to be counted down at the time of subscription, could not be dispensed with by the commissioners, or subsequently by the company: the contract before us is regulated, or expressly prohibited by no statute whatever. It…
2Cited by15 opinions
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- Williamson v. C., R. I. & P. R.Supreme Court of Iowa · 1880
- Boogher v. Life Ass'n of AmericaSupreme Court of Missouri · 1882
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