McRae v. Locke

114 Mass. 96

• Court: Massachusetts Supreme Judicial Court
• Decided: November 15, 1873
• Status: Published

Opinion

Wells, J.

No action at law can now be maintained by a creditor of a corporation against its officers, to enforce liabilities imposed by the statutes relating to corporations. If such an action was authorized, against officers of a mining company, by Gen. St. c. 60, § 31, and c. 61, § 5, that provision was expressly repealed before this cause of action arose. Sts. 1862, c. 218, § 10; 1870, c. 224, § 69. No remedy now exists except in equity.

This objection to the form of action is not waived or rendered immaterial by the submission upon an agreed statement of facts. The corporation is a necessary party to a proper bill in equity.

The plaintiff cannot be allowed, in this court, to amend by changing the action to a suit in equity. The appeal does not transfer the case, but only the question of law. Gen. Sts. c. 115, § 12. There being no error of law in the judgment of the court below, it must be

Affirmed.