McClaine v. Rankin

Citations

• 119 F. 110
• 56 C.C.A. 160
• 1902 U.S. App. LEXIS 4646

Syllabus

<p>1. National Banks—Action by Receiver to Recover Assessments—Complaint.</p> <p>A complaint in an action by the receiver of a national bank to recover an assessment from a stockholder sufficiently shows the capital stock of the bank, although not directly alleged, where it alleges that there were 500 shares, of the par value of $100 each, and that the assessment was made ratably, at $100 per share, and amounted to $50,000.</p> <p>2. Same—Notice of Assessment—Evidence.</p> <p>The testimony of a witness that in his capacity as receiver of a national bank he made personal demand upon a stockholder for the payment of an assessment, and that the stockholder admitted having received notice thereof, where uncontradicted, sufficiently shows notice and demand to support an action to recover the assessment.</p> <p>3. Same—Authority to Sue.</p> <p>Specific authority given by the comptroller to the receiver of a national bank to bring an action against a stockholder to recover an assessment is not withdrawn, or affected by a'subsequent general authority to compromise or sell all the claims or assets of the bank.</p> <p>4. Same—Defenses—Prior Action by Receiver.</p> <p>An action brought by the receiver of a national bank against a stockholder to enforce a compromise agreement entered into for the settlement of the stockholders’ liability for an assessment, but in which the receiver took a voluntary nonsuit, is not a bar to a subsequent action to recover the assessment, the stockholder having failed to carry out the compromise agreement, nor did the receiver’s action in commencing such suit create an estoppel against him.</p>