President of the Centre v. M'Conaby
Supreme Court of Pennsylvania
IN ERROR. The plaintiffs in error brought this action in the Court of Common Pleas of iküj^iw.county, against James M‘Conaby, the defendant in error, to recover the amount of his subscription for five shares of the stock of the company.
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IN ERROR. The plaintiffs in error brought this action in the Court of Common Pleas of iküj^iw.county, against James M‘Conaby, the defendant in error, to recover the amount of his subscription for five shares of the stock of the company. The company was incorporated by virtue of an act of assembly passed 7th March, 1821, which provided, that when six hundred shares had been subscribed, the .commissioners should certify that fact'to the governor, who should thereupon incorporate them by the name of “ The President, &c.” The. company was incorporated on the 9th of November, 1821. Several bills…
1Opinion of the Court
The opinion of the court was delivered by
Duncan, J.
This was an action brought by the corporation against the defendant to compel payment of the amount of the subscription of the defendant, one of the seven first named persons in their charter, and who accepted the charter, and acted under it by giving notice of the election to be held for president and managers of the company, and who voted by proxy at the said election.
The defence was, that the charter was obtained by means of the subscription of three hundred shares of fictitious stock to make up the number of subscribers required by the…
2Cases cited1 opinion
- Commonwealth v. Union Fire & Marine InsuranceMassachusetts Supreme Judicial Court · 1809
3Cited by3 opinions
- New Hampshire Central Railroad v. JohnsonSuperior Court of New Hampshire · 1855
- M'Conahy v. Centre & Kishacoquillas Turnpike Road Co.Supreme Court of Pennsylvania · 1830
- State ex rel. Ives v. ChoateOhio Supreme Court · 1842