[Download] "Hornor v. Henning Et Al." by United States Supreme Court ~ eBook PDF Kindle ePub Free

eBook details

Title: Hornor v. Henning Et Al.
Author : United States Supreme Court
Release Date : January 01, 1876
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 55 KB

Description

Mr. Walter D. Davidge for the defendants in error. The liability claimed is purely statutory. It did not exist at common law. The liability of the trustees is solely for the excess of indebtedness, and to the creditors of the company, one of whom cannot maintain an action for his individual debt. The whole scheme of the provision is the creation of a fund for the benefit of all the creditors of the company. Sturgis v. Burton, 8 Ohio St. 215; Merchants' Bank v. Stevenson, 10 Gray, 232; Stevenson v. Merchants' Bank, 5 Allen, 398; Moore v. Reynolds, 109 Mass. 473; Harris v. The First Parish of Dorchester, 23 Pick. 112; Crease v. Babcock, 10 Met. 531; Morse on Banking, pp. 438, 439, and cases cited; Pollard v. Bailey, 20 Wall. 520.