Georgia Reports Volume 24

Georgia Reports Volume 24

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1859 edition. Excerpt: the time the bonds were issued was a stock-holder in the company to the amount of ten thousand dollars--the stockholders are all responsible men, and complainant can look only to the assets of the company, the charter exempting the private property of the stockholders from liability for the debts. 9th. The sale was frequently advertised, when property would have brought a fair value, but under one pretext or another, the sale was delayed, and if now sold, it will be at a ruinous sacrifice, because of the uncertain state of monetary matters, now existing. 10th. The bill was amended and charges that the Factory building was sold in 1855, at Sheriff's sale under a fi fa in favor of the defendant Farish Carter against the company, and Carter gave notice at the sale and before any bid was made, that the factory building and the lot were to be sold subject to the bonds. 11th. Under that notice John L. Mustian became the purchaser at $8,000 or $9,000, Mustian knowing that he was purchasing subject to the incumbrance of the bonds. 12th. That the said property was worth between $19,000 and $20,000 free from incumbrances. The bill prayed, that the complainant may be subrogated to the rights of the bond creditors, that the trustees be required to hold up the surplus of the proceeds of the sale, to be applied to the payment of the indebtedness of complainant. That the trustees be required to sell the factory buildings and the lots whereon they are situated, before selling any other property in the said deed and apply the same to the payment of the bonds. That the trustees may be required to pay to complainant from the proceeds of the sale an amount equal to her debt, which amount she may pay to Carter, and that Carter maybe required to...
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Product details

  • Paperback
  • 189 x 246 x 11mm | 381g
  • United States
  • English
  • black & white illustrations
  • 1236807006
  • 9781236807007