Taylor v. Ziegenhagen

Citations

• 131 F. 232
• 1904 U.S. App. LEXIS 4285

Syllabus

<p>1. Corporations — Validity op Mortgage — Securing Debts op Stockholders.</p> <p>A corporation has no power to execute its notes, secured by a mortgage of its property, for individual debts of its stockholders incurred in tne purchase of their stock, to the exclusion of creditors of the corporation, although their claims arose after the mortgage was executed and recorded.</p>