Brooks v. Buys

Defendants George Vander Meer and John Buys, as copartners, owned a mill and certain personal property in connection therewith, and in April, 1915, they, together with Sybrand Vander Meer, organized the Moline Milling Company, a corporation.

In the articles of association, duly executed and filed, they set the capital stock at $20,000, of which $15,000 was subscribed by them, and alleged that:

“The amount of said stock actually paid in at the 'date hereof is the sum of fifteen thousand dollars, of which amount fifteen thousand dollars has been paid in property, an itemized description of which,…