Flint v. Pierce
Massachusetts Supreme Judicial Court
Contract against a stockholder of the Reading Agricultural and Mechanic Association for the amount of a balance due on a promissory note of the association made by its treasurer.
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Contract against a stockholder of the Reading Agricultural and Mechanic Association for the amount of a balance due on a promissory note of the association made by its treasurer. The declaration alleged the individual liability of the defendant on the note by reason of his subscription of the following by-law of the association : “ Article 10. The members of this association pledge themselves in their individual as well as their collective capacity to be responsible for all moneys loaned to this association and for the payment of which the treasurer may have given his obligation agreeably to…
1Opinion of the CourtWells, J.
The note upon which this action is based is the contract of the corporation. The defendant is not a party to that contract; and the plaintiff does not seek, by this suit, to charge him upon any statute liability as a stockholder. Responsibility for the amount of the note is sought to be established through a by-law of the corporation, to which the defendant had attached bis signature. This by-law, with others, was adopted in 1831. To become a member of the association it was requisite to subscribe the by-laws. It does not appear that the defendant’s signature was attached for any other…
2Cited by19 opinions
- Exchange Bank v. RichMassachusetts Supreme Judicial Court · 1871
- Kramer v. GardnerSupreme Court of Minnesota · 1908
- Smoot v. Bankers Life Ass'nMissouri Court of Appeals · 1909
- Hartford v. Massachusetts Bowling Alleys, Inc.Massachusetts Supreme Judicial Court · 1918
- Bushway Ice Cream Co. v. Fred H. Bean Co.Massachusetts Supreme Judicial Court · 1933
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