Santa Cruz Railroad v. Spreckles

Citations

• 65 Cal. 193
• 3 P. 661
• 1884 Cal. LEXIS 488

Syllabus

<p>Corporation—Assessment—Paid up Stock. — Corporations formed and existing under the laws of this State may levy and collect assessments for corporate purposes on shares of stock upon which the subscriptions have been fully paid.</p> <p>Id. —Advances by a Director—Money advanced to a corporation by a director, in good faith, and which is received and used for necessary corporate purposes, is a valid claim against the corporation.</p>