Richards v. Robin

Headnote

Richards v. Robin, 175 App. Div. 296 , affirmed.

Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered December 22, 1916, affirming a judgment in favor of defendants, respondents, entered upon a dismissal of the complaint as to them by the court on trial at Special Term. The trial court also dismissed a cross demand made by the defendant, appellant, against such defendants, respondents. This action was brought to enforce the statutory liability of the stockholders of the Northern Bank of New York. The appellant, Mooney, was a stockholder on the books of said bank at the time the superintendent of banks took possession of its assets, and when sued as such stockholder of record he served an answer in which he sought to recover over from the respondents, Tefft, Reeves, Carpenter and Nash, any sums which he might be forced to pay to the plaintiff in this action. The question was whether a stockholder of record, who had sold his stock at public auction and delivered the certificates indorsed in blank, could recover from stockholders who bid in the stock as brokers for an undisclosed principal, any call or assessment which he might thereafter be compelled to pay because of the fact that after the sale he continued as the stockholder of record on the books of the corporation.