Waddle v. Bird

The opinion of the court was delivered by

Hutchison, J.:

This is an action by five persons who were formerly the directors of the Hopewell Coöperative Equity Exchange against a number of individuals who had been stockholders in the *256exchange, for contribution and for subrogation to all the rights of the Farmers State Bank of Hopewell, based upon an indemnity contract given by the defendants at the request of the bank. The defendants answered by general denial and by pleading the three- and the five-year statutes of limitations, the solvency of the exchange when the liability accrued, no loss…