Beam v. Floyd County Farmers Union Inc.

Court of Appeals of Georgia

Beam v. Floyd County Farmers Union Inc.

69 S.E. 225, 8 Ga. App. 399, 1910 Ga. App. LEXIS 185

CourtCourt of Appeals of Georgia

DecidedNovember 11, 1910

Docket2681

StatusPublished

Cited by1 cases

This text of 69 S.E. 225 (Beam v. Floyd County Farmers Union Inc.) is published on Counsel Stack Legal Research, covering Court of Appeals of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Beam v. Floyd County Farmers Union Inc., 69 S.E. 225, 8 Ga. App. 399, 1910 Ga. App. LEXIS 185 (Ga. Ct. App. 1910).

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Opinion

Hill, C. J.

1. The capital stock of a corporation is a trust fund for the benefit of stockholders and creditors, and no officer of the corporation has authority to release any subscriber to the stock from payment of his subscription. Cartwright v. Dickinson, 88 Tenn. 476 (12 S. W. 1030, 7 L. R. A. 706, and cases cited in note, 17 Am. St. R. 910); Putnam v. New Albany etc. R. Co., 16 Wall, 390 (21 L. ed. 361).

2. The evidence demanded the verdict directed. Judgment affirmed.

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Hill, C. J.

1. The capital stock of a corporation is a trust fund for the benefit of stockholders and creditors, and no officer of the corporation has authority to release any subscriber to the stock from payment of his subscription. Cartwright v. Dickinson, 88 Tenn. 476 (12 S. W. 1030, 7 L. R. A. 706, and cases cited in note, 17 Am. St. R. 910); Putnam v. New Albany etc. R. Co., 16 Wall, 390 (21 L. ed. 361).

2. The evidence demanded the verdict directed. Judgment affirmed.

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Bluebook (online)

69 S.E. 225, 8 Ga. App. 399, 1910 Ga. App. LEXIS 185, Counsel Stack Legal Research, https://law.counselstack.com/opinion/beam-v-floyd-county-farmers-union-inc-gactapp-1910.

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