Bole v. Belden Automobile Transmission Co.

Citations

• 239 Pa. 1
• 86 A. 640
• 1913 Pa. LEXIS 512

Syllabus

<p>Corporations — Stochholders—Subscription to stoclc — Payment in property — Collusive judgment against corporation — Intervention— Creditor’s bill — Equity.</p> <p>The defendant in a creditor’s bill to compel the payment of a stock subscription to a corporation set up as a defense that he had paid the subscription by turning an automobile over to the company, which defense was overruled and a decree entered against him, which decree was affirmed on appeal to the Supreme Court. One week after the filing of the opinion in the Supreme Court, defendant brought suit against the company for the value of the automobile and the next day, before the writ was served, an answer was filed by one of the directors of the company admitting the allegation set forth in the statement, and on the same day judgment was entered for the amount of the sum claimed. The judgment •thus obtained was made the basis of an application by the defendant for leave to intervene as a plaintiff in the creditors’ bill. Held, that the petition to intervene was properly dismissed.</p>