Steam Stone Cutter Co. v. Scott
Supreme Court of Missouri
Appeal from Ore ene Circuit Court. — Hon. Jas. T. Neville, Judge. (1) The section of tbe statute under which, this suit is brought is in conflict with section 9 of article 12, of the Constitution, and .hence void. The latter section provides that “in no case shall any stockholder be individually liable in any amount over or above the amount of stock owned by him or her.”
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Appeal from Ore ene Circuit Court. — Hon. Jas. T. Neville, Judge. (1) The section of tbe statute under which, this suit is brought is in conflict with section 9 of article 12, of the Constitution, and .hence void. The latter section provides that “in no case shall any stockholder be individually liable in any amount over or above the amount of stock owned by him or her.” The section was adopted during the time that stockholders of corporations were subjected to payments of debts to the extent of double the amount of their stock. (2) In this proceeding the court will look into all the…
1Opinion of the CourtVallant, J.
Defendants are sued as stockholders in a dissolved corporation on three notes issued by the corporation to plaintiff.
The first count of the petition contains statements to the effect that the defendants organized the corporations with an ostensible capital of $70,000, divided into 700 shares, which were all taken by themselves except two shares given one each to two other persons named, to enable them to organize; the number of shares taken by each defendant is stated and they aggregate 698; that the articles of association upon which the defendants obtained the charter stated that the full…
2Cases cited3 opinions
- Van Cleve v. BerkeySupreme Court of Missouri · 1898
- Shickle v. WattsSupreme Court of Missouri · 1887
- Perry v. TurnerSupreme Court of Missouri · 1874
3Cited by15 opinions
- Kansas City & Grandview Railway Co. v. HaakeSupreme Court of Missouri · 1932
- Lewisohn v. StoddardSupreme Court of Connecticut · 1906
- First National Bank v. RockefellerSupreme Court of Missouri · 1906
- Shields v. HobartSupreme Court of Missouri · 1903
- McKee v. RuddSupreme Court of Missouri · 1909
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