Aspinwall v. Torrance
New York Supreme Court
Appeal from a judgment entered on the report of a referee. Plaintiff brought the action as a stockholder of “ The Mexican Ocean Mail and Inland Company,” on his own behalf, and that of all other stockholders of such company, who might come in and contribute to the expense of the action, which was for a dissolution of the company, &c., and-to compel contribution by the'defendants, as the stockholders who were liable originally with him, toward the payment of certain judgments…
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Appeal from a judgment entered on the report of a referee. Plaintiff brought the action as a stockholder of “ The Mexican Ocean Mail and Inland Company,” on his own behalf, and that of all other stockholders of such company, who might come in and contribute to the expense of the action, which was for a dissolution of the company, &c., and-to compel contribution by the'defendants, as the stockholders who were liable originally with him, toward the payment of certain judgments recovered against him by judgment creditors of the company. The' defendant, Torrance, and several others answered,…
1Opinion of the Court
Present — Ingraham, Barnard and Brady, JJ.
By the Court
Ingraham, P. J.
The principal question submitted in this case is, whether a stockholder, who has heen compelled to pay a debt due a corporation formed under this general law, can maintain an action against all the stockholders at the time of contracting the debt, for contribution, when the stockholders are only severally liable under the statute.
In Young v. N. Y. and Liverpool U. S. Mail Steamship Co. (15 Abbott, 69), an action was brought against the stockholders, praying for an account, and that judgment might be given that each…
2Cases cited8 opinions
- Garrison v. . HoweNew York Court of Appeals · 1858
- Slee v. BloomNew York Supreme Court · 1822
- White v. . MadisonNew York Court of Appeals · 1862
- White v. SkinnerNew York Supreme Court · 1816
- Palmer v. StephensCourt for the Trial of Impeachments and Correction of Errors · 1845
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3Cited by2 opinions
- Abeles v. CochranSupreme Court of Kansas · 1879
- Merchants' Insurance v. HillMissouri Court of Appeals · 1882