Case Plow Works v. Montgomery

Citations

• 115 Cal. 380
• 47 P. 108
• 1896 Cal. LEXIS 1020

Syllabus

<p>Corporations—Liability of Stockholders—Pleading—Time of Incurring Indebtedness.—In an action to enforce the individual liability of a stockholder for his proportionate share of a corporate debt, the complaint must show affirmatively that the indebtedness was incurred while the defendant was a stockholder, and the mere allegation that on a certain day, while the defendant was a stockholder, the corporation made its promissory note, is not sufficient, in the absence of an averment that the indebtedness was then for the first time incurred, or that the corporation then became indebted to the plaintiff.</p>