American Trading & Importing Co. v. Miron & Lifson

*738The opinion of the court was delivered by

Walker, Chancellor.

This was an action in the Supreme Court tried at Circuit. Plaintiff sued for $1,800, balance of unpaid subscription by defendant to its preferred capital stock of the par value of $2,000, $200 of which had been paid on account on signing the subscription agreement. Defendant answered that appellant corporation had not been organized in accordance with the subscription agreement; that the preferred stock provided for in the articles of incorporation was not in accordance with that provided for in the agreement, and that a bond had not…