Davidson v. Rankin

Citations

• 34 Cal. 503

Syllabus

<p>Liability of Stockholder of Mining Corporation—When Cause of Action for Accrues.—The right of action against a stockholder of a mining corporation, on account of his individual responsibility for its debts and liabilities, as prescribed by the sixteenth section of the Act concerning mining corporations, accrues at the same time as against the corporation, and is not contingent on a recovery against the corporation.</p> <p>Limitation of Actions against Executors.—The defendants' testator was a stockholder of a mining corporation, and as such became individually responsible to plaintiff for a portion of its liabilities, and for which a right of action accrued against the testator in his lifetime. The claim thus arising was not presented to defendants—his executors—for allowance, as in demand against their testator’s estate, until after the expiration of the ten months prescribed by the one hundred and thirtieth section of the Probate Act for the presentation of claims against estates. Thereafter it was so presented by plaintiff, and was rejected by defendants ; whereupon, plaintiff brought action for its recovery, to which defendants pleaded said section of the Probate Act in bar: held, that under the statute the action was barred.</p>