G., C. & S. F. R'y Co. v. Neely

Citations

• 64 Tex. 344

Syllabus

<p>1. Subscriptions — Contract — Liability. — In order to secure the construction of a railroad over a certain line and the establishment of a depot at a named point, a committee solicited subscriptions to the amount of $2,500; $2,850 of this was paid to the railroad company in cash and the subscription list given to it at the same time. One hundred and fifty dollars of the subscriptions remained unpaid, but the railroad company gave a receipt as for §2,500, and after building the road and locating the depot at the desired points, sued for the §150. Held, that the liability of the defendant was in no way affected by the fact that the other subscribers paid their subscriptions in advance of the time designated. Defendant did not withdraw his promise to pay the amounts subscribed until after the railroad company had accepted the subscriptions and performed its part of the agreement. When this had been done the defendant became bound and the subscription became a valid contract between the parties.</p>