Broderick v. Bevilacqua

TMs is an appeal from a judgment dismissing the complaint upon the merits in an action by the Superintendent of Banks to collect from defendant the sum of $2,125, upon his stock liability as a stockholder in a defunct bank, pursuant to section 80 of the Banking Law of the State of New York.

The facts are all stipulated. It is needless to recite them, for the whole case comes down to the question whether defendant may have a set-off, against his stock liability, of the amount contributed by defendant to a certain $50,000 fund advanced by defendant and eleven other stockholders and directors,…