Coalfield Co. v. Peck

Citations

• 98 Ill. 139
• 1881 Ill. LEXIS 234

Syllabus

<p>1. Siockhoéders—of the remedy to enforce liability of stockholders in suit by a creditor of the corporation. Under section 8 of the act of 1872, entitled Corporations, making stockholders liable to creditors of the corporation to the extent of their unpaid stock, to be proceeded against at the same time, as in cases of garnishment, it is not essential that a stockholder or stockholders should he proceeded against at the same time the suit is brought against the corporation, as in garnishee proceedings under the Attachment act. The intention of the act is to give the remedy as ample and complete as in cases of garnishment known to the laws of the State, including the process after judgment.</p> <p>2. Same — stockholder can not attack a judgment against corporation as collusive, at law. Under the act of 1872 making stockholders liable for unpaid stock to creditors of the corporation, a stockholder when sought to be made liable can not attack the judgment recovered against the corporation on the ground that it is' collusive and unjust. If he can attack the judgment on that ground, he must do so in a court of chancery.</p> <p>3. Practice—on reversal Appellate Court must find the fads. Where the judgment of the Appellate Court is made as the result, wholly or in part, of a finding of facts different from the finding in the trial court, it is made the duty of the Appellate Court to recite in its final order, judgment or decree, the facts found by it. If it does not, and no error of law is found in the record of the trial court, a judgment of reversal by the Appellate Court will be erroneous.</p>