W. F. Taylor Co. v. Gulf Land & Lumber Co.

Citations

• 119 La. 426
• 44 So. 187
• 1907 La. LEXIS 497

Syllabus

<p>Corporations — Debts — What Constitute.</p> <p>The defendant company received all the stock of the Leesville Lumber Company, Limited, and nearly all of its property by deed of sale.</p> <p>After the defendant company had become the transferee of the stock, it continued operations until January 1, 1905, without change.</p> <p>After it became transferee by deed and actively took charge in its own name, it paid part of the debt, and its president gave his note for the remaindei’. It represented an indebtedness of the company.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig-vol. 12, Corporations, § 2316.]</p> <p>Provos.ty, J., dissenting.</p> <p>(Syllabus by the Court.)</p>