Burrel Collins Brokerage Co. v. Dunn

Citations

• 91 Kan. 64
• 136 P. 939
• 1913 Kan. LEXIS 336

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Corporation — Capital Stock — Trust Fund — Must be Paid for in Money or in Money’s Worth. The capital stock of a corporation is a trust fund for the benefit of the general creditors of a corporation, and one who subscribes for shares of stock must pay for them either in money or in money’s worth.</p> <p>2. - Same. The testimony examined- and held to be sufficient to support the decision of the court refusing the allowance of a claim made against an insolvent corporation by one who had turned over property and credits in payment for shares of stock.</p>