Acetylene Light, Heat & Power Co. v. Smith
Superior Court of Pennsylvania
Appeal, No. 113, Oct. T., 1898, by defendant, from judgment of O. P. No. 2, Phila. Co., June T., 1897, No. 847, for want of a sufficient affidavit of defense. Opinion by W. D. Porter, J. Assumpsit to recover unpaid subscriptions to stock, ^mounting to |600 with penalty of one balf per cent per month and interest. Before the court in banc.
Read the full summary
Appeal, No. 113, Oct. T., 1898, by defendant, from judgment of O. P. No. 2, Phila. Co., June T., 1897, No. 847, for want of a sufficient affidavit of defense. Opinion by W. D. Porter, J. Assumpsit to recover unpaid subscriptions to stock, ^mounting to |600 with penalty of one balf per cent per month and interest. Before the court in banc. "The affidavit of defense set up that the subscription had been induced by fraud and was therefore void and that there is no legal warrant for the collection of interest in addition to the monthly penally on stock subscription. The affidavit of defense is…
1Opinion of the Court
Opinion by
W. D. Porter, J.,
The defendant, by agreement in writing dated October 5, 1895, subscribed for 100 shares of the stock of the plaintiff corporation, at the rate of $50.00 per share, and in accordance with the terms and at the date of the agreement paid fifty per centum of the amount in cash, and undertook to pay the balance as it should be called by the board of directors of the corporation. Upon calls duly made by the board of directors he paid, on April 20, 1896, $5.00 per share, and, on October 1,1896, a second payment of $5.00 per share.
*64Two calls, each for $3.00 per share, were…
2Cases cited7 opinions
- Leaming v. WiseSupreme Court of Pennsylvania · 1873
- Howard v. TurnerSupreme Court of Pennsylvania · 1893
- Shisler v. VandikeSupreme Court of Pennsylvania · 1880
- Bristol Iron & Steel Co. v. SelliezSupreme Court of Pennsylvania · 1896
- Acetylene Light, Heat & Power Co. v. BeckSuperior Court of Pennsylvania · 1898
2 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Kinter v. Commonwealth Trust Co.Supreme Court of Pennsylvania · 1922
- Wood v. WoodSupreme Court of Pennsylvania · 1919
- Gray v. Maryland Credit Finance Corp.Superior Court of Pennsylvania · 1941
- Zeller v. HauptSuperior Court of Pennsylvania · 1910
- Kessler v. PerrongSuperior Court of Pennsylvania · 1903
7 more not listed; retrieve them via the Exa API.