Hauk v. Louden

Appellate Court of Illinois

Hauk v. Louden

199 Ill. App. 112, 1916 Ill. App. LEXIS 167

DecidedApril 17, 1916

StatusPublished

This text of 199 Ill. App. 112 (Hauk v. Louden) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Hauk v. Louden, 199 Ill. App. 112, 1916 Ill. App. LEXIS 167 (Ill. Ct. App. 1916).

Pincite

Opinion

Mr. Justice Boggs

delivered the opinion of the court.

4. Witnesses, § 74*—when officer of corporation incompetent witness in action by another officer. An officer and stockholder of a corporation who, with another officer, is jointly and severally liable for the repayment of money by the corporation for stock purchased by such officers, “is an incompetent witness in an action by such other officer to recover the purchase price of the stock from the estate of another person who agreed to take up such stock. 5. Corporations, § 261*—how officers may relieve themselves from individual liability on indebtedness to corporation. Officers of a corporation who deal with themselves as individuals have no right to relieve themselves as individuals from their liability on an indebtedness to the corporation except, upon full payment of their obligations.

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Mr. Justice Boggs

delivered the opinion of the court.

4. Witnesses, § 74*—when officer of corporation incompetent witness in action by another officer. An officer and stockholder of a corporation who, with another officer, is jointly and severally liable for the repayment of money by the corporation for stock purchased by such officers, “is an incompetent witness in an action by such other officer to recover the purchase price of the stock from the estate of another person who agreed to take up such stock. 5. Corporations, § 261*—how officers may relieve themselves from individual liability on indebtedness to corporation. Officers of a corporation who deal with themselves as individuals have no right to relieve themselves as individuals from their liability on an indebtedness to the corporation except, upon full payment of their obligations.

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Bluebook (online)

199 Ill. App. 112, 1916 Ill. App. LEXIS 167, Counsel Stack Legal Research, https://law.counselstack.com/opinion/hauk-v-louden-illappct-1916.