Rounds v. McCormick

Citations

• 114 Ill. 252
• 29 N.E. 684

Syllabus

<p>Stockholders—remedy upon their liability for debts of corporation— when in equity. The liability of stockholders under section 9 of the act of 1857, entitled “An act for the formation of manufacturing, mining, mechanical and chemical corporations, ” is to the creditors of the corporation as a class, and not to each individual creditor. Therefore, the remedy of a creditor seeking to enforce the personal liability created by that section, is in a court of equity, and not at law.</p>