Boushall v. . Stronach
Supreme Court of North Carolina
Civil actioN tried by Cooke, J., at May Term, 1916, of Wake. This is an action by the receiver of an insolvent corporation to recover upon a subscription to the stock of the corporation.
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Civil actioN tried by Cooke, J., at May Term, 1916, of Wake. This is an action by the receiver of an insolvent corporation to recover upon a subscription to the stock of the corporation. The defendant admits the subscription to the stock and alleges the following as a defense; “But the defendant alleges that in signing his name to said paper he was not aware that he was binding himself to pay any shares of stock in said corporation.or making himself liable therefor, and that he, the said defendant, did not knowingly or intentionally contract or agree to take three shares or any other number…
1Opinion of the CourtAlleN, J.
A fair construction of the answer of the defendant is that he subscribed for three shares of stock, not intending to pay for them, and that he was induced to make the subscription by the statement of the promoter that he would not be required to pay; that he wanted his name on the subscription list, as one of the good, responsible people of Raleigh, to assist him in getting other people to take stock; and, as thus understood, the facts alleged do not constitute a defense.
In the first place, 'the subscription list is a contract in writing, supported by a valuable consideration, and comes…
2Cases cited5 opinions
- Basnight v. Southern Jobbing Co.Supreme Court of North Carolina · 1908
- Bank v. Moore.Supreme Court of North Carolina · 1905
- Rousseau v. . CallSupreme Court of North Carolina · 1915
- Pipkin v. . RobinsonSupreme Court of North Carolina · 1855
- Burhans v. JohnsonWisconsin Supreme Court · 1862
3Cited by10 opinions
- Jefferson Standard Life Insurance v. MoreheadSupreme Court of North Carolina · 1936
- Clifton v. TombCourt of Appeals for the Fourth Circuit · 1927
- Roebuck v. . CarsonSupreme Court of North Carolina · 1929
- Raleigh Improvement Co. v. AndrewsSupreme Court of North Carolina · 1918
- Coral Gables, Inc. v. . Ayres.Supreme Court of North Carolina · 1935
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