Sinclair v. Redington

If these plaintiffs were liable at all for the debts of the defendant corporation, it was by virtue of the statute making stockholders, under certain circumstances, individually liable for the debts of the corporation. These parties, then, stand to each other in the relation of co-sureties or co-guarantors for the White Mts. Railroad. The defendants have purchased in, at a large discount, the claims against the corporation. No one will claim that they can recover of the corporation a larger sum than will completely indemnify them. It follows a fortiori that a surety, who has bought up the…