Cox v. Dickie

Citations

• 48 Wash. 264
• 93 P. 523
• 1908 Wash. LEXIS 845

Syllabus

<p>Corporations- — Subscriptions to Stock — Actions to Enforce— Defenses — Estoppel. It is no defense to an action by the receiver of an insolvent corporation, brought for the benefit of creditors against stockholders on their unpaid stock subscriptions, that the stock was purchased bona fide as fully paid, that the stock was not fully subscribed, or the corporation a legal one, or that they subscribed on false representations believing that the company was not in debt; defendants being estopped to set up such defenses as to creditors.</p> <p>Same — Notice of Assessments — Sufficiency. Under Bal. Code, § 4262, requiring notice of assessments on unpaid stock to be given personally or by publication, notice by the receiver of an insolvent corporation, given by mailing and publication, as ordered by the court, is sufficient.</p> <p>Same — Actions—-Parties. The receiver of an insolvent corporation may join all the stockholders in an action to recover the amount of their unpaid stock subscriptions.</p> <p>Same — Subscriptions—Name of Company. A change in the name of a corporation does not release subscribers to the capital stock, where the subscriptions were given in the name at first intended to be used, but were intended for and in fact subscriptions to the company afterwards incorporated under another name, the two being one and the same company.</p>