Stone v. Chisolm’s Empirical Analysis

Citation profile

6 federal appellate · 7 district · 12 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 43 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““To ascertain the existence of .the liability in a given case requires an account to be taken of the amount of the corporate indebtedness, and of the amount of the capital stock actually paid in; facts which the directors, upon whom the liability is imposed, have a right to have determined,, once for all, in a proceeding which shall conclude all who have an adverse interest, and a right to participate in the benefit to result from enforcing the liability. Otherwise the facts which constitute the basis of liability might be determined differently by juries in several actions, by which some creditors might obtain satisfaction and others be defeated. The evident intention 'of the provision is that the liability shall be for the common benefit of all entitled to enforce it, according to their interest, an apportionment which, in case there cannot be satisfaction for all, can only be made in a single proceeding, to which all interested can be made parties. The case cannot be distinguished from that of Hornor v. Henning, 93 U. S. 228 , the reasoning and result in which we reaffirm. It is immaterial that in the present case it does not appear that there are other creditors than the plaintiffs in error. There can be but one rule for construing the section, whether the creditors be. one or many. To the question certified, therefore, it must be answered that an action at law will not lie, and that the only remedy is by a suit in equity. ’ ’”

   2 later decisions quote this exact passage · from the majority
   e.g. James H. Rice Co. v. Libbey · Platner v. Hughes

2. ““The conditions of the personal liability oí the directors of the corporation, expressed in the statute, are that there shall be debts of the corporation in excess of the capital stock actually paid in, to which the directors sought to be charged shall have assented, and this liability is for the entire excess, both to the creditors and to the corporation.””

   1 later decision quote this exact passage · from the majority
   e.g. Lyman v. Hilliard

3. ““The total amount of debts which such corporation shall at any time owe shall not exceed the amount of its capital stock actually paid in; and, in case of such excess, the directors in whose administration it shall happen shall be personally liable for the same, both to the contractor or contractors, and to the corporation.””

   1 later decision quote this exact passage · from the majority
   e.g. Lyman v. Hilliard