Legal Opinion
Bryson v. Conlen
New Jersey Court of Chancery
Decided January 21, 1929PublishedCited by 1 opinion
1Opinion of the Court
I think it clear that the capital stock of this insolvent corporation, all of which has been issued for property purchased, must be assessed for an amount adequate to pay all claims against the corporation which have been proven before the receiver and also the necessary administration expenses.
The corporation was incorporated and its entire capital stock issued for property purchased in the year 1915. At that time section 49 of the Corporations act (Revision of 1896), 2 Comp.Stat. p. 1630, had been amended by chapter 15 of the laws of 1913 (P.L. 1913 p. 28) and the provisions of the former…
2Cases cited8 opinions
- Marin v. AugedahlSupreme Court of the United States · 1918
- Holcombe v. Trenton White City Co.New Jersey Court of Chancery · 1912
- See v. HeppenheimerNew Jersey Court of Chancery · 1905
- Cumberland Lumber Co. v. Clinton Hill Lumber Manufacturing Co.Supreme Court of New Jersey · 1899
- McDermott v. WoodhouseSupreme Court of New Jersey · 1917
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3Cited by1 opinion
- G. Loewus v. Highland QueenNew Jersey Court of Chancery · 1939