Ledbetter v. Sunflower State Oil Co.

Citations

• 96 Kan. 636
• 152 P. 763
• 1915 Kan. LEXIS 450

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Corporation — Entire Assets Absorbed by Another Corporation — Original Corporation Dissolved — Absorbing Corporation Liable for Tort of Original Corporation. In an action to recover damages for a tort committed by a corporation, in which action another corporation was joined as defendant, the petition alleged that, subsequent to the injury and damage complained of, the first corporation sold and transferred to the other all its capital stock, assets, contracts, and franchises, and thereafter ceased business; that it was consolidated with and merged into the absorbing company, which by reason thereof became its successor. Held, that the petition stated a cause of action against the absorbing corporation.</p> <p>2. Same — Liability of Absorbing Corporation — Established in One Action. Where the absorbing corporation is by law answerable for the liabilities of the old, such liability as well as the extent and amount thereof may be established in one action, and it is not essential, even in the case of a claim founded upon a tort, that the creditor first establish his demand against the original tort-feasor.</p>