Fowler v. Ludwig
Supreme Judicial Court of Maine
On Report from Nisi Prius, Howard, J. presiding. Action oe the case, submitted to the Court upon the evidence. The material facts, as determined by the Court, are as follows. — The George’s Canal Company ivas incorporated after the 16th of February, 1836. Its shareholders, therefore, to the respective amounts of their stock, were subject to personal liability for the debts of the company, as prescribed.
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On Report from Nisi Prius, Howard, J. presiding. Action oe the case, submitted to the Court upon the evidence. The material facts, as determined by the Court, are as follows. — The George’s Canal Company ivas incorporated after the 16th of February, 1836. Its shareholders, therefore, to the respective amounts of their stock, were subject to personal liability for the debts of the company, as prescribed. R. S. c. 76, § 18, 19 and 20. The defendant, in July, 1846, subscribed for six shares at $50, each. This subscription he duly paid. Upon the stock book of the company he was charged, Aug. 1,…
1Opinion of the CourtShepley, C. J.
— The right of the plaintiffs to recover will depend upon their being creditors of the Georges Canal Company, while the defendant was an owner of its stock. He subscribed for six shares on July 23, 1846. These were informally transferred to Caleb Levinsaler on December 7, 1847. No transfer of them was made upon the books of the corporation until December 12, 1848. The defendant, as it respects a creditor of the corporation, must be considered as their owner until that time.
He was charged on the stock book of the corporation with twelve shares under date of August 1, 1846, and he is there…
2Cited by7 opinions
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- Hudson v. BradleyU.S. Circuit Court for the District of Massachusetts · 1862
- Jacobs v. KnappSupreme Court of New Hampshire · 1870
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