Case ID: f-cas_20/html/1079-03.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Case No. 11,985.
    ROCKVILLE & W. TURNPIKE ROAD v. MAXWELL.
    [2 Cranch, C. C. 451.] 
    
    Circuit Court. District of Columbia.
    April Term, 1824.
    Corporations — Stock Subscription — Action by Corporation to Recover.
    The Rockville and Washington Turnpike Company may maintain an action against a stockholder for the amount of his subscription, and are not obliged to resort to a sale of his shares.
   [This was an action on the case by the president, managers, and company of the Rockville & Washington Turnpike Road against George P. Maxwell.]

This was a case like the preceding case [Case No. 11,980], and THE COURT (nem. con.) decided that the plaintiff was not confined to the remedy by a sale of the shares of a delinquent stockholder, but had a substantive cause of action against him for the subscription money; and that a subscriber could not discharge himself from his obligation by an abandonment of his shares.