Reports Of Cases Argued And Determined In The Supreme Court Of Tennessee (volume 132)

Paperback | January 16, 2012

byTennessee. Supreme Court

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1915. Not illustrated. Excerpt: ... Sullivan v. Farnsworth. The remedy of the creditor to finally look to stockholders who have not paid in full for their stock after the other assets have proven inadequate is applied by the American courts generally. The capital stock, especially unpaid subscriptions, constitute, in equity, a trust fund for the benefit of creditors, and the stockholders may be compelled to make payment upon his stock to its par, if so much is necessary to pay debts. Shannon's Code, sec. 2058; Sweeney v. Railroad, 118 Tenn., 297, 314, 100 S. W., 732; Jones v. Whitworth, 94 Tenn., 602, 30 S. W., 736; Shields v. Clifton Land Co., 94 Tenn., 123, 28 S. W., 668, 26 L. R. A., 509, 45 Am. St. Rep., 700; Cartwright v. Dickinson, 88 Tenn., 476, 12 S. W., 1030, 7 L. R. A., 706, 17 Am. St. Rep., 910; Railroad v. Parks, 86 Tenn., 560, 8 S. W., 842; Morrow v. Iron & Steel Co., 87 Tenn., 265, 10 S. W., 495, 3 L. R. A., 37, 10 Am. St. Rep., 658; Chase v. Railroad Co., 5 Lea, 415; Kelley v. Fletcher, 94 Tenn., 1, 28 S. W., 1099; Upton v. Tribilcock, 91 U. S., 47, 23 L. Ed., 203; Washburn v. Green, 123 U. S., 30, 10 Sup. Ct., 280, 33 L. Ed., 516; Applet on v. Turnbull, 84 Me., 72, 24 Atl., 592; Trust Co. v. Loan Co., 92 Me., 448, 43 Atl., 24; Cook on Corporations, sec. 199; Beach, Private Corporations, secs. 113, 116; Thompson, Liability of Stockholders, secs. 10, 11. In Tennessee it should appear that the other assets have been or are being collected, and are insufficient to pay debts, and an account must he taken, and an order made in the nature of a call upon stockholders for unpaid subscriptions, and this must be made ratably, so Sullivan v. Farnsworth. as to be equal and uniform. Simmons v. Taylor, 106 Tenn., 740, 63 S. W., 1123. And it is held in several jurisdictions, in accord with the Ten...

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1915. Not illustrated. Excerpt: ... Sullivan v. Farnsworth. The remedy of the creditor to finally look to stockholders who have not paid in full for their stock after th...

Format:PaperbackDimensions:198 pages, 9.69 × 7.44 × 0.42 inPublished:January 16, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217275273

ISBN - 13:9780217275279

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