Cozad v. McKee

Citations

• 130 Pa. 406
• 18 A. 618
• 1889 Pa. LEXIS 1201

Syllabus

<p>(a) Defendant gave to plaintiff, for stock in a title insurance and trust company, a due-bill for an amount “ to be paid only from the first dividends declared by the ” company, the several pajunents to be indorsed thereon.</p> <p>1. In such case, though no dividends were ever declared out of profits, but the company went into liquidation and distributed its assets to its shareholders, the defendant was liable to plaintiff for what he received upon his shares out of such assets.</p>