Legal Opinion
American Steel & Wire Co. v. Eddy
Michigan Supreme Court
Decided April 8, 1902No. Docket No. 204PublishedCited by 13 opinions
Error to Bay; Shepard, J.' Petition by the American Steel & Wire Company, a judgment creditor of the Miller Hardware Company, under 3 Comp. Laws, § 8554 eb seq., against Selwyn Eddy, a preferred stockholder, to enforce the latter’s liability under section 7057, 2 Comp. Laws. From a judgment for defendant on verdict directed by the court, plaintiff brings error.
1Opinion of the CourtHooker, C. J.
The plaintiff, a judgment creditor of' the Miller Hardware Company, brought this action against a preferred stockholder, under the provisions of section 7057 of the Compiled Laws of 1897, which reads-as follows:.
“If the capital stock of any such corporation shall'be *267withdrawn and refunded to the stockholders before the payment of all the debts of the corporation for which such stock would have been liable, the stockholders of such corporation shall be jointly and severally liable to any creditor of such corporation, in an action founded on this statute, to the amount of the sum refunded to…
2Cases cited6 opinions
- Williams v. . Western Union Telegraph Co.New York Court of Appeals · 1883
- Richardson v. BuhlMichigan Supreme Court · 1889
- Lockhart v. Van AlstyneMichigan Supreme Court · 1875
- Hubbard v. WeareSupreme Court of Iowa · 1890
- People ex rel. Farnum v. San Francisco Savings UnionCalifornia Supreme Court · 1887
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Spencer v. SmithCourt of Appeals for the Eighth Circuit · 1912
- McIntyre v. E. Bement's SonsMichigan Supreme Court · 1906
- Clark v. E. C. Clark Machine Co.Michigan Supreme Court · 1908
- Ellsworth v. LyonsCourt of Appeals for the Sixth Circuit · 1910
- Detroit Trust Co. v. GoodrichMichigan Supreme Court · 1913
8 more not listed; retrieve them via the Exa API.