The American And English Encyclopædia of Law ..
The American And English Encyclopædia of Law ..
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Y. 3153 ; Christensen v. Colby, 43 Hun (N. Y.) 362.
But a stockholder in a corporation cannot set off a debt due him by the corporation, against his statutory lia- bility as such stockholder, where his claim against the corporation consists of a judgment assigned to him, for which he has never paid. Such a defense being an equitable one, it is essential to Its maintenance that the defendant and the creditor, by whom he is sued, stand upon an equality, and that is not the case where it is simply... shown that he became possessed of the judgment Bulkley v, Whitcomb, 49 Hun (N. Y.) 290.
One having insurance in a mutual insurance company cannot set up as a counterclaim, a demand for a loss cov- ered by the insurance in an action against him, brought by a receiver or an assignee of the company, for insur- ance premiums or otherwise, inasmuch as he occupies the double relation of debtor and creditor; and being bound to make compensation, as well as to receive it, it would be inequitable to allow him, when the funds of the com- pany are not adequate to pay all the losses, to set off his entire demand.
What to read after The American And English Encyclopædia of Law ..?
You can find similar books in the "Read Also" column, or choose other free books by Merrill, John Houston, [from Old Catalog] Ed to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Y. 3153 ; Christensen v. Colby, 43 Hun (N. Y.) 362.
But a stockholder in a corporation cannot set off a debt due him by the corporation, against his statutory lia- bility as such stockholder, where his claim against the corporation consists of a judgment assigned to him, for which he has never paid. Such a defense being an equitable one, it is essential to Its maintenance that the defendant and the creditor, by whom he is sued, stand upon an equality, and that is not the case where it is simply... shown that he became possessed of the judgment Bulkley v, Whitcomb, 49 Hun (N. Y.) 290.
One having insurance in a mutual insurance company cannot set up as a counterclaim, a demand for a loss cov- ered by the insurance in an action against him, brought by a receiver or an assignee of the company, for insur- ance premiums or otherwise, inasmuch as he occupies the double relation of debtor and creditor; and being bound to make compensation, as well as to receive it, it would be inequitable to allow him, when the funds of the com- pany are not adequate to pay all the losses, to set off his entire demand.
What to read after The American And English Encyclopædia of Law ..?
You can find similar books in the "Read Also" column, or choose other free books by Merrill, John Houston, [from Old Catalog] Ed to read onlineMoreLess
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