Case ID: ny-sup-ct_11/html/0135-01.html
Source: Caselaw Access Project
Author: {"author": "Gilbert, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

THE AMERICAN SILK WORKS, Respondent, v. I. J. SALOMON, Appellant.
    Corporations—■ acquisition of propet'ty before incorporation completed—subscriptions may be in chattels.
    
    Corporations may acquire title to money paid upon subscriptions to capital stock before tire corporation has a legal existence, and such subscriptions may be in the form of property other than money.
    Appeal from a judgment in favor of the plaintiff herein, entered on the report of a referee. The action was brought for the alleged conversion by the defendant of certain steam gas-pipes, etc., the property of the plaintiff.
    
      Gardiner & Goodhart, for the appellant.
    
      Williams Brothers, for the respondent.
   Opinion by

Gilbert, J.

Present — Barnard, P. J., Gilbert and Tappen, JJ.

Barnard, P. J., dissented.

Judgment affirmed, with costs.