Texla Oil Co. v. Calhoun

Court of Appeals of Georgia

Texla Oil Co. v. Calhoun

137 S.E. 84, 36 Ga. App. 536, 1927 Ga. App. LEXIS 133

CourtCourt of Appeals of Georgia

DecidedMarch 2, 1927

Docket17509

StatusPublished

This text of 137 S.E. 84 (Texla Oil Co. v. Calhoun) 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

Texla Oil Co. v. Calhoun, 137 S.E. 84, 36 Ga. App. 536, 1927 Ga. App. LEXIS 133 (Ga. Ct. App. 1927).

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Opinion

Stephens, J.

1. Where a subscriber to the capital stock of a corporation lias complied with, his contract and fully paid for his stock, and where the corporation, after demand upon it for issue of the stock, refuses to issue the stock, the subscriber may treat the contract as rescinded and recover from the corporation the amount which he has paid for the stock. DeLamar v. Fidelity Loan & Investment Co., 158 Ga. 361 (4) (123 S. E. 116); 14 C. J. 486, § 720; Watkins v. Record Photographing Abstract Co., 76 Ore. 421 (149 Pac. 478); Kinser v. Cowie, 235 Ill. 383 (85 N. E. 623, 126 Am. St. R. 221).

2. The petition set out a cause of action, and the court properly overruled the demurrer.

Judgment affirmed.

Jenkins, P. J., and Bell, J., concur.

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Stephens, J.

1. Where a subscriber to the capital stock of a corporation lias complied with, his contract and fully paid for his stock, and where the corporation, after demand upon it for issue of the stock, refuses to issue the stock, the subscriber may treat the contract as rescinded and recover from the corporation the amount which he has paid for the stock. DeLamar v. Fidelity Loan & Investment Co., 158 Ga. 361 (4) (123 S. E. 116); 14 C. J. 486, § 720; Watkins v. Record Photographing Abstract Co., 76 Ore. 421 (149 Pac. 478); Kinser v. Cowie, 235 Ill. 383 (85 N. E. 623, 126 Am. St. R. 221).

2. The petition set out a cause of action, and the court properly overruled the demurrer.

Judgment affirmed.

Jenkins, P. J., and Bell, J., concur.

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Bluebook (online)

137 S.E. 84, 36 Ga. App. 536, 1927 Ga. App. LEXIS 133, Counsel Stack Legal Research, https://law.counselstack.com/opinion/texla-oil-co-v-calhoun-gactapp-1927.

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