Rocky Mountain National Bank v. . Bliss
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, entered upon an order made May 27, 1881, which affirmed a judgment in favor of defendant, entered upon an order dismissing plaintiff’s complaint on trial.
Read the full summary
Appeal from judgment of the General Term of the Supreme Court, in the first judicial department, entered upon an order made May 27, 1881, which affirmed a judgment in favor of defendant, entered upon an order dismissing plaintiff’s complaint on trial. This action was brought by plaintiff, a creditor of the Ophir Gold Mining Company, a corporation organized under the General Manufacturing Act (Chap. 40, Laws of 1848), to enforce the liability imposed by said act (§ 10), when the whole amount of capital stock has not been paid in. Plaintiff proved a judgment in its favor, rendered in the…
1Opinion of the CourtSapallo, J.
The twenty-fourth section of the General Manufacturing Law of 1848 (Chap. 40) has been construed in the case of Handy v. Draper * decided at the present term, and it is there held that the return of an execution unsatisfied against the corporation is a condition precedent to the right of a creditor to bring an action against a stockholder, and that this condition applies to the case of a continuing stockholder as well as to that of one who has ceased to be such.
The proceeding against the company in Colorado was not a compliance with this condition. It was a proceeding in rem, which affected…
2Cases cited4 opinions
- Crippen v. . HudsonNew York Court of Appeals · 1855
- Tarbell v. GriggsNew York Court of Chancery · 1831
- Dix v. BriggsNew York Court of Chancery · 1842
- Thomas v. Merchants' BankNew York Court of Chancery · 1841
3Cited by18 opinions
- Whitman v. Oxford National BankSupreme Court of the United States · 1900
- Flash v. ConnSupreme Court of the United States · 1883
- Importers & Traders' National Bank v. QuackenbushNew York Court of Appeals · 1894
- Finney v. GuyWisconsin Supreme Court · 1900
- May v. BlackWisconsin Supreme Court · 1890
13 more not listed; retrieve them via the Exa API.