Hammond v. Cline

<p>1. Pleading.- — Demurrer.—Parties.—Right to Sue. — A demurrer for want of facts, questions the plaintiff’s right to maintain the action, p. 453.</p> <p>2. Receivers. — Actions by. — Authority.—The receiver has no right to maintain an action authorized hy an order of the court, where the law does not authorize the court to make such an order, p. 454.</p> <p>3. Same. — •-Insolvent Corporations. — Stockholders.—Statutory Lia-Íbility to Creditors. — Parties to Actions Concerning. — The receiver of an insolvent corporation has no right to maintain an action, for the benefit of creditors, to recover upon the stockholders’ statutory liability to creditors, such action being purely personal to the creditors, p. 454.</p> <p>4. Corporations. — Stockholders. — Statutory Liability. — Rights.— l Corporations have no interest in their stockholders’ statutory lia- | bility to the corporation’s creditors, p. 454.</p> <p>5. Action. — Numerous Parties. — Stockholders.—Statutory Liability. — Receivers.—The receiver of an insolvent corporation is not a creditor thereof, and cannot, .under §270 Burns 1008, §209 R. S. 1881, providing that where the persons interested in an action are numerous, one may sue for the benefit of all, maintain an action for the enforcement of the stockholders’ statutory liability, for the benefit of all of such corporation’s creditors, p. 455.</p>