Von Glahn v. . Harris
Supreme Court of North Carolina
Civil actioN, tried at the Spring Term, 1875, of the Superior Court of New HaNOYee county, before his Honor,, Judge McKoy.
Read the full summary
Civil actioN, tried at the Spring Term, 1875, of the Superior Court of New HaNOYee county, before his Honor,, Judge McKoy. This was an action brought 22d of May, 1871, by plaintiff to recover of defendant, one of the stockholders of the Commercial Bank of Wilmington, alleging that the defendant was-a stockholder to the extent of 20 shares of stock at the value of $100 per share, making $2,000. That the Bank is insolvent, and was so at the commencement of this action, and that the defendant was, and'is liable under the clause of the charter, which reads: “ That in case of insolvency or…
1Opinion of the CourtPeaesoN, C. J.
Several interesting questions were discussed on the argument.. We will confine ourselves to one of them, because a decision of that disposes of the ease, and we prefer to let the others stand over for further consideration.
We put our decision on the ground that by a proper construction of the clause of the charter of the bank, making the stockholders liable to the creditors of the bank, one creditor cannot maintain an action ; but may sue in the name of himself and all of the other creditors, who will become parties to the action and prove their debts, so as to entitle themselves to a part of…
2Cases cited1 opinion
- Pollard v. BaileySupreme Court of the United States · 1874
3Cited by9 opinions
- Smathers v. Bank.Supreme Court of North Carolina · 1904
- Vonglahn v. . DerossetSupreme Court of North Carolina · 1879
- Von Glahn v. . DerossettSupreme Court of North Carolina · 1877
- Leucke v. TredwayMissouri Court of Appeals · 1891
- Lewis v. W. D. Rountree & Co.Supreme Court of North Carolina · 1879
4 more not listed; retrieve them via the Exa API.