Alpha Portland Cement Co. v. Schratweiser

Citations

• 221 F. 258
• 137 C.C.A. 111
• 1915 U.S. App. LEXIS 1328

Syllabus

<p>Corporations «=>232—Stockholders’ Liability—Payment foe Stock in ■ Property.</p> <p>Within Stock Corporation Law N. Y. (Consol. Laws, c. 59) § 56, making every holder of stock not fully paid personally liable to creditors, to an amount equal to the amount unpaid, for debts of the corporation contracted while such stock was held by him, stock may be fully paid in property as well as in- cash; and where directors, in issuing stock in payment for patents, exercised their judgment as to the value of the patents and the amount of stock which should be issued, honestly and fairly and without fraud, their judgment was conclusive.</p> <p>[Ed. Note.—For other cases, see Corporations, Cent. Dig. §§ 879, 880, 883, 884, 987; Dec. Dig. «=>232.]</p> <p><@=mFor other eases see same topic & KEY-NUMBER in all Key-Numbered Digests & Indexes</p>