Spear v. Grant
Massachusetts Supreme Judicial Court
This was an action of the case, pending in the county of Kennebeck. The first count in the declaration alleges, “ that, by a law of this commonwealth, passed on the sixth day of March, 1804, a cer tain corporation was established by the name of The President, Directors and Company of the Hallowell and Augusta Bank, and so to continue until the fifth day of October, 1812; that the capital stock of said bank consisted of 200,000 dollars, divided into shares of 100 dollars each…
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This was an action of the case, pending in the county of Kennebeck. The first count in the declaration alleges, “ that, by a law of this commonwealth, passed on the sixth day of March, 1804, a cer tain corporation was established by the name of The President, Directors and Company of the Hallowell and Augusta Bank, and so to continue until the fifth day of October, 1812; that the capital stock of said bank consisted of 200,000 dollars, divided into shares of 100 dollars each ; that the said corporation was bound by law [ *10 1 to pay and redeem all the notes, which from time * to time might…
1Opinion of the CourtParker, C. J.
The difficulties in supporting this action are, in some respects, greater than those which occurred in the case of Vose vs. Grant, A promise in law is supposed to arise on the facts stated in the declaration ; for it is agreed that no express promise was made.
The facts are, substantially, that the defendant, being a stockholder in the Hallowell and Augusta Bank, did withdraw from the bank his proportion of stock; the bank being * then [* 13 ] indebted on bills which had been previously issued, some of which have come into the hands of the plaintiff. The bank being now broken up and dissolved,…
2Cited by36 opinions
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