Ward Hunt

“ The rule applies to increasing the stock of a corporation when the question arises upon paying a subscription for stock forming a part of such increase. The duty and the necessity of performing the contract of subscription are the same as in the case of an original stockholder.
An assignee appointed under the bankrupt laws of the United States represents both the corporation and its creditors, and the defence of irregular organization cannot be urged against him. ”

“ The careful examination then given to the several questions renders unnecessary a detailed review of them.
We think there is nothing in the record before us that would justify us in disturbing the verdict and judgment rendered in the Circuit Court. ”

“ The same authorities hold that one who receives a certificate of stock for a certain number of shares, at a given sum per share, thereby becomes liable to pay the amount thereof when called upon by the corporation or its assignee. Nor is it necessary to sustain the action that there suould have been a subscription for the whole amount named on the articles. ”