Rives v. Montgomery South Plank-Road Co.
Supreme Court of Alabama
Appeal from the Circuit Court of Montgomery. Tried before the lion. Nat. Cook. This action was brought by the appellee, to recover of the defendant the balance due on his subscription for stock in said company. The defendant pleaded the general issue, with leave to give any special matter in evidence.
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Appeal from the Circuit Court of Montgomery. Tried before the lion. Nat. Cook. This action was brought by the appellee, to recover of the defendant the balance due on his subscription for stock in said company. The defendant pleaded the general issue, with leave to give any special matter in evidence. On the trial, the plaintiff offered in evidence the act of its incorporation, (Session Acts 1849-50, p. 227,) the material portions of which are stated in the opinion of the court; and proved its organization pursuant to the terms of the charter, the defendant’s subscription of $500 to the…
1Opinion of the CourtWalker, J.
We proceed, first, to consider the question whether the board of directors of the corporation, which is the appellee,' had the power to make the calls for the payment of the subscriptions to its capital stock. The first seetion of the charter of the corporation constitutes Joseph D. Hopper and others,- and their associates and successors, a body corporate. The second section enacts, that the capital stock of the company shall be one hundred thousand dollars, and that subscriptions to the same shall *96be regulated “by the parties named in the first section, or a majority of them, as to the time,…
2Cases cited14 opinions
- Lawson v. StateSupreme Court of Alabama · 1852
- Florey's Executors v. FloreySupreme Court of Alabama · 1854
- Atwood's Adm'r v. WrightSupreme Court of Alabama · 1856
- Selma & Tennessee Rail Road v. TiptonSupreme Court of Alabama · 1843
- Chambers v. KeeneCourt of Appeals of Kentucky · 1858
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3Cited by6 opinions
- Hinkley v. Sac Oil & Pipe Line Co.Supreme Court of Iowa · 1906
- Stone v. WalkerSupreme Court of Alabama · 1917
- Montgomery Southern Railway Co. v. MatthewsSupreme Court of Alabama · 1884
- Patton v. GilmerSupreme Court of Alabama · 1868
- Johnson v. LightseySupreme Court of Alabama · 1859
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