Can I read Velasco v. Poizat: Stock Subscription Liability on EtoBox?

Velasco v. Poizat: Stock Subscription Liability by Raymart Salamida is a document available to read on EtoBox.

What is Velasco v. Poizat: Stock Subscription Liability about?

1) Poizat subscribed to 20 shares of stock in a corporation but only paid for 5 shares, leaving 15 shares unpaid. The corporation became insolvent. 2) The court held that Poizat was liable to pay for the 15 unpaid shares as a stock subscription is a binding contract that courts will enforce. 3) When a corporation becomes insolvent, all unpaid stock subscriptions become immediately due and can be recovered by the insolvency assignee in a legal action.

Author

Raymart Salamida

Language

EN