Vonglahn v. . Derosset
Supreme Court of North Carolina
Civil Action Removed from New Hanover and tried at Spring Term, 1878, of Brunswick Superior Court, before Eure, J. This action was brought to recover an amount of money alleged to be due the plaintiffs by the Commercial bank of Wilmington on account of deposits made by them with the bank.
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Civil Action Removed from New Hanover and tried at Spring Term, 1878, of Brunswick Superior Court, before Eure, J. This action was brought to recover an amount of money alleged to be due the plaintiffs by the Commercial bank of Wilmington on account of deposits made by them with the bank. The bank being insolvent, a recovery is sought against the defendant stockholders by virtue of the personal liability clause in the charter to the effect that in case of insolvency or ultimate inability of the bank to pay, the individual stockholders shall be liable to creditors in sums double the amount of…
1Opinion of the CourtSmith, C. J.
The president and directors of the Commercial bank of Wilmington were incorporated and organized under an act of the general assembly, ratified on the 18th «day of January, 1847. Its existence as a corporate body expired by the limitation contained in its charter and amendment on the 31st day of December, 1871. One of the clauses of the charter upon which the plaintiffs’ claim is predicated is in these words: “ In case of insolvency or ultimate -inability of the bank to pay, the individual stockholders shall be liable to creditors in sums double the amount of the stock by them, respectively…
2Cases cited4 opinions
- Mumma v. Potomac Co.Supreme Court of the United States · 1834
- Thornton v. Marginal Freight Railway Co.Massachusetts Supreme Judicial Court · 1877
- Von Glahn v. . DerossettSupreme Court of North Carolina · 1877
- Von Glahn v. . HarrisSupreme Court of North Carolina · 1875
3Cited by21 opinions
- Nelson v. HubbardSupreme Court of Alabama · 1892
- Logan v. North Carolina RailroadSupreme Court of North Carolina · 1895
- Logan v. . R. R.Supreme Court of North Carolina · 1895
- Ryan v. RayIndiana Supreme Court · 1886
- Bass v. Roanoke Navigation & Waterpower Co.Supreme Court of North Carolina · 1892
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