S. M. Jones Co. v. Hoffman

Citations

• 114 La. 996
• 38 So. 763
• 1905 La. LEXIS 581

Syllabus

<p>CORPORATIONS — INSOLVENCY—ACTION AGAINST STOCKHOLDERS — UNPAID SUBSORIP- ' TIONS — PARTIES.</p> <p>Several distinct creditors of the Home Oil Development Company, Limited, joined in a suit alleging that they had each obtained a judgment against it, and had caused writs, of fi. fa. to issue, which had been returned nulla bona. That certain persons (whom they named) were stockholders in the corporation,, and had not paid their subscriptions. They prayed that these persons be cited, and that they have judgment against them in solido, and that the moneys received under such judgment be applied to the payment of the plaintiffs and such other creditors as might elect to join in. the suit. The corporation and its board of directors were not made parties. Held, that an exception of misjoinder of plaintiffs and also misjoinder of defendants was properly sustained, as was also (for reasons assigned) an exception of “no cause of action.”</p> <p>(Syllabus by the Court.)</p>