Beardslee v. Shickler

Citations

• 219 Pa. 165
• 68 A. 44
• 1907 Pa. LEXIS 622

Syllabus

<p>Corporations — Capital stock — Indebtedness—Subsequent creditor.</p> <p>Where a corporation, in dealing with its stockholders and creditors in good faith, reduces its liabilities $27,500 at a cost of less than $5,000 in reduction of real estate which is not needed in the operation of its plant, a subsequent creditor cannot complain that the transaction involved a reduction or impairment of capital stock which affected his rights.</p>