Chase v. Sycamore & Courtland Railroad

Citations

• 38 Ill. 215

Syllabus

<p>1. Subscription—to stock of railroad. A subscription to the stock of a Railroad Company, conditioned to be paid when the sum of five thousand dollars was raised for a certain purpose, is a conditional contract.</p> <p>2. A mere subscription of stock does not make the subscriber a member of the corporation; especially so, when such subscription is conditional.</p> <p>3. A conditional subscription need not be paid before condition performed..</p> <p>4. Evidence—books of a corporation. The books of a corporation are evidence between its members, but not against strangers.</p> <p>5. Notice—when necessary. When the fact, or circumstance on which performance of a contract depends, lies more particularly in the knowledge of the promisee than the promisor, the former must give to the latter notice of such fact or circumstance, before suit can be brought upon the contract.</p>