Patterson v. Lynde
Supreme Court of the United States
Error to -the Circuit Court of the United States for the Northern District of Illinois. Patterson, a judgment , creditor of a mining company, organized under the general laws of Oregon “in relation to the formation of priváfe corporations',” brought this action against Lynde to enforce his liability'to the company upon an unpaid stock subscription, and thus sought to apply Lynde’s indebtedness to* the payment of the. judgment.
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Error to -the Circuit Court of the United States for the Northern District of Illinois. Patterson, a judgment , creditor of a mining company, organized under the general laws of Oregon “in relation to the formation of priváfe corporations',” brought this action against Lynde to enforce his liability'to the company upon an unpaid stock subscription, and thus sought to apply Lynde’s indebtedness to* the payment of the. judgment. Lynde demurred, and judgment was rendered in his favor. Patterson then brought this writ of error. The constitutional and statutory provisions applicable to the case…
1Opinion of the CourtChief Justice Waite
The only question we deem it necessary to consider in this-case is, whether a creditor of a corporation, formed and' organized under the general laws of Oregon “ in relation to the formation of private corporations,” can maintain an action at law against a stockholder to recover, out of an unpaid balance of subscription to the capital stock, the debt due to him from the corporation.
Section 3 of article 11 of the-Constitution of Oregon provides that “ the stockholders of all corporations and joint-stock companies shall be liable for the indebtedness of said corporation to the- amount of their…
2Cases cited2 opinions
- Sawyer v. HoagSupreme Court of the United States · 1873
- Ladd & Bush v. CartwrightOregon Supreme Court · 1879
3Cited by48 opinions
- Fourth Nat. Bank of NY v. FrancklynSupreme Court of the United States · 1887
- Marshall v. . ShermanNew York Court of Appeals · 1895
- Harrison v. Remington Paper Co.Court of Appeals for the Eighth Circuit · 1905
- Compton v. JesupCourt of Appeals for the Sixth Circuit · 1895
- Wyman v. BowmanCourt of Appeals for the Eighth Circuit · 1904
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