Philadelphia & Delaware County Railroad v. Conway

Citations

• 177 Pa. 364
• 35 A. 716
• 1896 Pa. LEXIS 991

Syllabus

<p>Railroads — Corporations—Stock subscription — Parol agreement — Evidence.</p> <p>A person who subscribes to the stock of a corporation cannot successfully defend against a suit on the subscription by averring that a parol agreement made at the time of the subscription was violated by the company, where the parol agreement is supported only by his own testimony, and is contradicted by the written agreement of subscription and by the testimony of the agent of the company.</p> <p>Corporations — Stock subscription — Principal and agent.</p> <p>Upon a written contract of subscription to the stock of a corporation, it is not competent to defeat the written contract by setting up an agreement made in parol with the agent who procures the subscription.</p> <p>Corporations — Stock subscriptions — Contracts with corporations and other subscribers.</p> <p>A subscription to the stock of a corporation is not only an undertaking with the corporation, but with all other subscribers.</p>