McHale v. Moore

Citations

• 66 Kan. 267
• 71 P. 522
• 1903 Kan. LEXIS 41

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Corporations — Liability of Stockholders. Under the statute imposing individual liability upon stockholders of a corporation for its debts, a cause of action accrues in favor of a creditor against a stockholder when the corporation is dissolved, whether its debts are mature or immature.</p> <p>2. - Action on Guaranty — Limitation of Action. A guaranty by a corporation that a debt of another not due will be paid according to the terms of an obligation is not then a debt of the corporation, and, unless such obligation becomes a debt of the corporation, the holder thereof is not deemed to be a creditor of the corporation, within the meaning of the statutes imposing individual liability upon stockholders for corporate debts.</p>