Marles Carved Moulding Co. v. Stulb

Citations

• 215 Pa. 91
• 64 A. 431
• 1906 Pa. LEXIS 738

Syllabus

<p>Corporations — Stock—Stock subscription — Bonus of stock.</p> <p>A stock subscription is not invalid because a bonus of stock is to be given with the stock subscribed for, where it appears that the bonus stock is to come, not from the company, but from a person to whom it had been issued in the payment of patent rights assigned to the company.</p> <p>A subscriber to the stock of a corporation cannot set up as a defense, in a suit against him upon his subscription, that when his signature was obtained the agent of the company represented to him that he never would be called upon to pay one cent of the subscription price, and that he subscribed under this condition.</p>