Palais Du Costume Co. v. Beach
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court. — Hon. Matt G. Reynolds, Judge. (1) The subscription to the capital stock of a corporation in Missouri is an asset of the company, , in which, by virtue of the subscription, the company, all individual members thereof, and all creditors, acquire an interest. Such a contract is one that can not be canceled or relinquished without the consent of all interested parties.
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Appeal from St. Louis City Circuit Court. — Hon. Matt G. Reynolds, Judge. (1) The subscription to the capital stock of a corporation in Missouri is an asset of the company, , in which, by virtue of the subscription, the company, all individual members thereof, and all creditors, acquire an interest. Such a contract is one that can not be canceled or relinquished without the consent of all interested parties. No officer of the company, not even the entire board of directors, can release a subscriber from this obligation so as to exempt him from his liability, created by such subscription, in…
1Opinion of the CourtReynolds, P. J.
This action came to this court on appeal from the St. Louis Circuit Court, and pursuant to section 3939, Revised Statutes 1909-, was transferred by us to the Springfield Court of Appeals, which court affirmed the judgment of the trial court. [See Palais Du Costume Co. v. Beach, 144 Mo. App. 456, 129 S. W. 270.] All proceedings in the Springfield Court of Appeals having been held void under the decision of our Supreme Court in State ex rel. St. Louis Dressed Beef & Provision Co. v. Nixon et al., 232 Mo. 496, 134 S. W. 538, the cause came back and has been argued before us.
The substantial facts…
2Cases cited3 opinions
- State ex rel. St. Louis Dressed Beef & Provision Co. v. NixonSupreme Court of Missouri · 1911
- Sherman v. ShaughnessyMissouri Court of Appeals · 1910
- Palais Du Costume Co. v. BeachMissouri Court of Appeals · 1910
3Cited by1 opinion
- Wilson v. Torchon Lace & Mercantile Co.Missouri Court of Appeals · 1912