Colorado Fuel & Iron Co. v. Sedalia Smelting Co.

This case practically presents but one proposition, and this *475only as it respects the right of a stockholder who has not paid his subscription and is sued by a creditor to enforce his liability to offset in that suit any debts or claims which he may have against the insolvent corporation by reason of advances or obligations otherwise incurred.

In 1893 the fuel and iron company sued the Sedalia Smelting Company and Robert Preston to recover the amount due for certain goods theretofore sold and delivered to the smelting company by the plaintiff. It was alleged the concern had become insolvent and…