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assessment order

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 297 U.S. 609 - Chandler v. Peketz · 1936Most cited · 79 citing opinions

The order levying the assessment is made conclusive as to all matters relating to the amount and propriety thereof, and the necessity therefor; it is thus conclusive, although the stockholder may not have been a party to the suit in which it was made or notified that an assessment was contemplated, as the order is not in the nature of a personal judgment against him and he must be deemed, by virtue of his relation to the corporation and the obligation assumed with respect to its debts, to be represented by it in the proceeding.