Harvey v. Weitzenkorn

Citations

• 232 Pa. 447
• 81 A. 447
• 1911 Pa. LEXIS 741

Syllabus

<p>Practice, C. P. — Affidavit of defense — Corporations—Subscriptions to stock — Cancellation—Appeals.</p> <p>1. An order discharging a rule for judgment for want of a sufficient affidavit of defense will not be reversed, except where a pure question of law is raised and clear error has been committed.</p> <p>2. A ruling of the court below discharging a rule for judgment for want of a sufficient affidavit of defense in an acbion by a trustee of a bankrupt corporation to recover the amount of a subscription to its capital stock will not be disturbed on appeal where the affidavit avers that the defendant’s subscription was conditional and made under a collateral agreement by which he was allowed three months in which to decide whether he would take the stock, and that after he had declined to take it, the corporation “by its constituted authorities” canceled the subscription while still a solvent, going concern.</p> <p>Corporations — Stock—Subscriptions to stock — Cancellation—Contracts.</p> <p>3. A contract of subscription to stock, like any other contract, may be waived, canceled or dissolved by the mutual consent of all the parties interested.</p>