Sadler v. Nicholson

Citations

• 49 S.C. 7
• 26 S.E. 893
• 1897 S.C. LEXIS 134

Syllabus

<p>1. CORPORATION — Stockholder—Creditor.—A creditor of an insol- .' vent corporation may sue one stockholder alone, on his statutory lia- ■ bility as stockholder, whére the act chartering the corporation makes such liability joint and several.</p> <p>2. This Exception is not well founded, because the testimony objected to by defendant as being ruled out was admitted.</p> <p>3. Corporation — Stockholders.—The charter of a corporation providing that a demand against it must be payable in one year, in order to make stockholders liable, construed not to mean that the action must be brought within one year after maturity.</p> <p>4. Defense — Laches—Action at Law. — The defense of laches is not available to an action at law not barred by the statute.</p>