Steele, Receiver v. Singletary
Supreme Court of South Carolina
Before Memminger, J., Florence,’ May 1921. Action by J. B. Steele, as Receiver of Planters Fertilizer & Oil Co., against John G. Singletary.
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Before Memminger, J., Florence,’ May 1921. Action by J. B. Steele, as Receiver of Planters Fertilizer & Oil Co., against John G. Singletary. From order sustaining demurrer to- the answer, and giving judgment for plaintiff by default the defendant appeals. cite: Demurrer admits allegations of fact: 97 S. C., 413; 98 S. C., 162; 108 S. C. 364. Receiver steps into shoes of corporation, subject to all rights and liabilities: 34 Cyc., 192, 388, 405; 146 U. S., 499. Judge cannot assume facts not alleged: 72 S. C., 137; 80 S. C., 432. Cases in which Receiver will be appointed: Pom. Eq. Juris., Secs.…
1Opinion of the Court
The opinion of the Court was delivered by
Mr. Justice Cothran.
Action upon a promissory note, signed by the defendant,' dated July 26, 1918, due 30 days after date, amount $400, payable to himself and indorsed to the Planters Fertilizer 6 Oil Company, ‘ of which company the plaintiff was appointed Receiver by order of Court dated June 18, 1920.
The defendant alleges in his answer that the note was given in payment of a subscription made by him to the capital stock of the said corporation, five shares par value $100 per share; that he paid $100 cash, and gave said note for the remainder of his…
2Cases cited2 opinions
- Newton Nat. Bank v. NewbeginCourt of Appeals for the Eighth Circuit · 1896
- Gress v. KnightSupreme Court of Georgia · 1910
3Cited by6 opinions
- Miller v. Premier Corp.Court of Appeals for the Fourth Circuit · 1979
- Burningham v. BurkeUtah Supreme Court · 1926
- Steele, Receiver v. KirvenSupreme Court of South Carolina · 1922
- Steele, Receiver v. ColemanSupreme Court of South Carolina · 1922
- Austin v. SoucekSupreme Court of Oklahoma · 1928
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