Burnap Building & Supply Co. v. Ladd

Citations

• 57 Pa. Super. 164
• 1914 Pa. Super. LEXIS 171

Syllabus

<p>Corporation — Stock subscription — Liability of subscriber — Conditional subscription — Oral agreement — Waiver.</p> <p>Where a number of persons enter into an agreement with a manufacturing company by which the latter is to erect a butter factory, and the subscribers agree to organize a corporation and take shares to the amount of their subscription and the factory is to be conveyed to such corporation, and it appears that one of the subscribers agreed to sign only upon the promise made orally to him.by the agent taking the subscriptions that he could withdraw his name from the list if he appeared at the next subscriber’s meeting, and requested his name to be withdrawn, and in an action to recover the subscription there is evidence that he appeared at the meeting, participated in it, and made no request that his name should be withdrawn, a verdict and judgment against him for the amount of subscription will be sustained.</p>