Shuey v. Holmes

Citations

• 21 Wash. 223
• 57 P. 818
• 1899 Wash. LEXIS 265

Syllabus

<p>BANKS-STATUTORY LIABILITY OP STOCKHOLDERS.</p> <p>Under art. 12, § 11, of the constitution, making each stockholder liable for all contracts, debts and engagements “accruing while they remain such stockholders,” one who was not a stockholder in a banking corporation at the time the corporate indebtedness was incurred or created cannot be subjected to the statutory liability of stockholders.</p> <p>EVIDENCE — PRESUMPTION AS TO CORPORATE INDEBTEDNESS.</p> <p>There is no presumption that the indebtedness of a banking corporation was incurred after a stockholder acquired her shares, in view of art. 12, § 11, of the constitution, making each stockholder liable for all contracts, debts and engagements “accruing while they remain such stockholders.”</p> <p>SAME-BURDEN OF PROOF.</p> <p>Nor, in view of the same constitutional provision, is it a matter of defense in an action to enforce the stockholder’s statutory liability in a banking corporation that she acquired her shares after its corporate indebtedness was incurred.</p>