Scott v. Latimer
Court of Appeals for the Eighth Circuit
In Error to the Circuit Court of the United States for the Western District of Missouri. This action was brought in the United States circuit court for the Western district of Missouri, by W. A. Latimer, receiver of the First National Bank of Sedalia, to recover from George H. Scott an assessment made by the comptroller of the currency upon the capital stock of the named bank, it being claimed that Scott owned and held 50 shares of the stock.
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In Error to the Circuit Court of the United States for the Western District of Missouri. This action was brought in the United States circuit court for the Western district of Missouri, by W. A. Latimer, receiver of the First National Bank of Sedalia, to recover from George H. Scott an assessment made by the comptroller of the currency upon the capital stock of the named bank, it being claimed that Scott owned and held 50 shares of the stock. In the answer filed it was admitted that the bank had been duly incorporated in 18G5; that it closed its doors and was put in liquidation in May, 1894,…
1DissentSanborn, Circuit Judge
There are two reasons why I am unable to assent to the views expressed and the conclusion reached by the majority of-the court in this case. They are that, in my opinion, the fraudulent representations which induced the plaintiff! in error to contract for the purchase of his stock entitle him to repudiate that purchase, and to rescind his. contract, and that the pretended increase of the capital of the bank was invalid, and he never 'became liable as a stockholder, because only two-thirds of the whole amount of the increase was ever paid in. Rev. St. § 5142. The case made by the pleadings is…
2Cases cited40 opinions
- Upton v. TribilcockSupreme Court of the United States · 1875
- Scovill v. ThayerSupreme Court of the United States · 1882
- Sanger v. UptonSupreme Court of the United States · 1875
- Sawyer v. HoagSupreme Court of the United States · 1873
- National Bank v. CaseSupreme Court of the United States · 1879
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