15 Ind. 236 (Ind. 1860), , Junction R. Co. v. Reeve

Citation15 Ind. 236
Opinion JudgeWorden, J.
Party NameThe Junction Railroad Company v. Reeve, Administrator of Daily
AttorneyJ. C. McIntosh and C. B. Smith, for appellant. B. F. Claypool, for appellee.
Judge PanelPer Curiam.
Case DateDecember 08, 1860
CourtSupreme Court of Indiana

Page 236

15 Ind. 236 (Ind. 1860)

The Junction Railroad Company

v.

Reeve, Administrator of Daily

Supreme Court of Indiana

December 8, 1860

APPEAL from the Fayette Common Pleas.

The judgment is affirmed, with costs.

J. C. McIntosh and C. B. Smith, for appellant.

B. F. Claypool, for appellee.

OPINION

Page 237

Worden, J.

This was a suit by the appellant against the appellee, upon two several subscriptions to the capital stock of the company, made by the defendant's intestate.

The first was a cash subscription, and need be no further noticed.

The second subscription is as follows, viz:

"We, whose names are hereto subscribed, do each agree to take the number of shares set opposite our names, of the capital stock of the Junction Railroad Co., at fifty dollars for each share, to be paid in real estate in Indiana or Ohio, at a valuation to be affixed by three disinterested appraisers, to be appointed by the board of directors, and to be conveyed to the company by deed in fee simple, free from all encumbrance, within one year from the first election of directors. A failure to convey the real estate, as above specified, shall render this a cash subscription, and the amount shall be paid on the same terms as stock subscribed to be paid in money.

Names. No. of Shares. Amount.
Wm. Daily. 22. $ 1100.00.
"Mr. Daily subscribes for the above, to be paid by the conveyance to the company of one quarter section of land in Delaware county, about five or six miles from Muncietown. If the company should not take the land at that price, this subscription to be void. (Signed,) "William Daily." Page 238 The paragraph of the complaint based upon this subscription, avers that the plaintiff "elected to take the said quarter of land at the price fixed by said decedent in his said agreement," but that the decedent, though often requested, failed and refused to convey, &c. This paragraph was answered by denial; also, by other pleading, which we deem it unnecessary to notice specially. There was a trial of the cause by the Court, and a finding and judgment for the plaintiff for the amount of the cash subscription only. The appellant seeks to reverse the judgment, because the amount found by the Court did not embrace the real estate subscription. The necessary steps were...

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10 practice notes
  • 157 P. 696 (Wyo. 1916), 823, Natwick v. Terwilliger
    • United States
    • Wyoming Supreme Court of Wyoming
    • October 16, 1916
    ...should be no liability on the subscription if that was not done. A similar subscription was considered in Junction Railroad Co. v. Reeve, 15 Ind. 236, cited in a note to Section 600 in Thompson on Corporations (2nd Ed.). The subscription in that case was for stock to be paid in real estate ......
  • 1 N.W. 261 (Minn. 1879), Baldwin v. Canfield
    • United States
    • Minnesota Supreme Court of Minnesota
    • May 15, 1879
    ...2 Exch. 158; Schumm v. Seymour, 24 N.J.Eq. 143; First Nat. Bank v. Christopher, 40 N. J. Law, (11 Vroom,) 435; Junction R. Co. v. Reeve, 15 Ind. 237; Cammeyer v. United German Churches, 2 Sandf. Ch. 186; Yellow Jacket Silver Mining Co. v. Stevenson, 5 Nev. 224; Hillyer v. Overman Silver Min......
  • 16 Ind. 275 (Ind. 1861), , Heaston v. The Cincinnati and Fort Wayne Railroad Co.
    • United States
    • Indiana Supreme Court of Indiana
    • June 6, 1861
    ...of the absent witness was to be directed to. See The Tonica, &c. Company v. Stein, 21 Ill. 96; Junction, &c. Company v. Reeve, 15 Ind. 236. This suit, as has been before stated, was based exclusively on the articles of association, or, as they may be denominated, of organization; an......
  • 45 Mo. 212 (Mo. 1870), Pacific R. Co. v. Seely
    • United States
    • Missouri Supreme Court of Missouri
    • Invalid date
    ...802; Sess. Acts 1852-3, p. 10, § 5; R. C. 1855, p. 425, § 29, e, d, 2 and 3; State v. Bailey, 16 Ind. 46; Junction R.R. Co. v. Reeve, 15 Ind. 236; Taylor v. Cedar Rapids & St. P. R.R., 25 Iowa 371; Chapman v. Mad River, etc., R.R., 6 Ohio St. 119.) Draffin & Muir, for defendants in ......
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10 cases
  • 157 P. 696 (Wyo. 1916), 823, Natwick v. Terwilliger
    • United States
    • Wyoming Supreme Court of Wyoming
    • October 16, 1916
    ...should be no liability on the subscription if that was not done. A similar subscription was considered in Junction Railroad Co. v. Reeve, 15 Ind. 236, cited in a note to Section 600 in Thompson on Corporations (2nd Ed.). The subscription in that case was for stock to be paid in real estate ......
  • 1 N.W. 261 (Minn. 1879), Baldwin v. Canfield
    • United States
    • Minnesota Supreme Court of Minnesota
    • May 15, 1879
    ...2 Exch. 158; Schumm v. Seymour, 24 N.J.Eq. 143; First Nat. Bank v. Christopher, 40 N. J. Law, (11 Vroom,) 435; Junction R. Co. v. Reeve, 15 Ind. 237; Cammeyer v. United German Churches, 2 Sandf. Ch. 186; Yellow Jacket Silver Mining Co. v. Stevenson, 5 Nev. 224; Hillyer v. Overman Silver Min......
  • 16 Ind. 275 (Ind. 1861), , Heaston v. The Cincinnati and Fort Wayne Railroad Co.
    • United States
    • Indiana Supreme Court of Indiana
    • June 6, 1861
    ...of the absent witness was to be directed to. See The Tonica, &c. Company v. Stein, 21 Ill. 96; Junction, &c. Company v. Reeve, 15 Ind. 236. This suit, as has been before stated, was based exclusively on the articles of association, or, as they may be denominated, of organization; an......
  • 45 Mo. 212 (Mo. 1870), Pacific R. Co. v. Seely
    • United States
    • Missouri Supreme Court of Missouri
    • Invalid date
    ...802; Sess. Acts 1852-3, p. 10, § 5; R. C. 1855, p. 425, § 29, e, d, 2 and 3; State v. Bailey, 16 Ind. 46; Junction R.R. Co. v. Reeve, 15 Ind. 236; Taylor v. Cedar Rapids & St. P. R.R., 25 Iowa 371; Chapman v. Mad River, etc., R.R., 6 Ohio St. 119.) Draffin & Muir, for defendants in ......
  • Request a trial to view additional results