Keystone Life Ins. Co. of Louisiana v. Von Schlemmer
Keystone Life Ins. Co. of Louisiana v. Von Schlemmer, 47 So. 606 (La. 1908).
Cited by
- Banks v. Kent Piling Co. 87 So. 2d 138 La. Ct. App. 1st Cir. 1956
- Hartsfield v. Green 62 So. 2d 180 La. Ct. App. 1st Cir. 1952
- Sanders De Hart v. Continental Land Fur Co. 17 So. 2d 827 La. 1944
- Warren v. Police Jury of Washington Parish 12 So. 2d 643 La. Ct. App. 1st Cir. 1943
- Boland MacH. & Mfg. Co. v. Favret 177 So. 836 La. Ct. App. 1st Cir. 1938
- Frasier v. Hartford Fire Ins. 121 So. 666 La. Ct. App. 2d Cir. 1928
- State ex rel. Briede v. City of New Orleans 1 La. App. 491 La. Ct. App. 4th Cir. 1925
- Town of Thibodaux v. Stark 76 So. 806 La. 1917
- City of Shreveport v. Chatwin 71 So. 791 La. 1916
- Parish Board of School Directors v. Alexander 51 So. 906 La. 1910
Opinion text
PROVOSTY, J. Sued by the plaintiff company on his subscription to 50 shares of its capital stock, the defendant seeks to escape liability by pleading an alleged fatal variance between the charter of the company and the terms of his subscription; the charter requiring subscriptions of stock to be “paid in cash,” and the terms of his subscription being “25 per cent, per month until full payment” *281 The district court and also the Court of Appeal (the case is here on writ of review) were of the opinion that hy payment “in cash” the charter means no more than that payment shall not be in anything hut money, and that, moreover, defendant is estopped from contesting the subscription; he having made it after he had acted as one of the directors of the plaintiff company, and in order to qualify as such. We prefer to rest our decision on the es-toppel. 10 Cyc. 531, 536; 26 A. & E. E. of L. 847; Wormser v. Metropolitan St. R. Co., 184 N. Y. 83 , 76 N. E. 1036 , 112 Am. St. Rep. 596 ; 6 A. & E. Annotated Cases, 123, 126. Judgment affirmed, at relator’s cost.