Baile v. Calvert College Educational Society
Court of Appeals of Maryland
Appeal from tbe Circuit Court for Carroll County. The “ Calvert College Educational Society of Carroll County” was incorporated under the general law for the formation of corporations, and after the required amount of capital stock had been taken, it purchased land and incurred obligations upon the faith of the subscriptions made.
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Appeal from tbe Circuit Court for Carroll County. The “ Calvert College Educational Society of Carroll County” was incorporated under the general law for the formation of corporations, and after the required amount of capital stock had been taken, it purchased land and incurred obligations upon the faith of the subscriptions made. Among the subscribers to the capital stock was a certain Peter Baile, who with the others signed the following agreement: “ The undersigned do hereby agree to take and subscribe for the several shares of stock in the corporation called The Calvert College…
1Opinion of the CourtRobinson, J.
This is a suit to recover of the appellant an assessment or call upon his subscription to the capital stock of the appellee.
The following is the written agreement signed by the appellant:
“The undersigned do hereby agree to take and subscribe for the several shares of stock in the corporation *120called the Calvert College Educational Societjr of Carroll County, set opposite our respective names, at the rate or price of ten dollars per share, and to pay for the same in such installments and at such times as may be .fixed and required by the trustees.”
The company was organized, purchased property…
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