Glenn v. Rosborough

Citations

• 48 S.C. 272
• 26 S.E. 611
• 1897 S.C. LEXIS 95

Syllabus

<p>1. Evidence — Fraud—Corporation.—The fact that a hoard of corporators have not complied with the requirements of the general law in the formation of a corporation, cannot he shown by a stockholder except in cases of fraud.</p> <p>2. Fraud — Corporation—Stockholder.— Fraudulent concealment and representation by a corporator of the condition of the corporation, made with intent to deceive a subscriber, and the falsity of which he could not learn by ordinary diligence, will release such subscriber from his obligation.</p> <p>3. Corporation — Mismanagement of the affairs of a bank after the formation of the corporation cannot affect the obligation of a subscriber to its capital stock.</p>