54 Wash. 633 | Wash. | 1909
On February 10,1908, the plaintiff, S. Iverson, obtained a judgment in the superior court of Spokane county against White Pine Lumber Company, a corporation, upon
The respondent has interposed a motion to dismiss, contending that the notice of appeal was not served upon the White Pine Lumber Company, the judgment debtor. It was served upon the respondent as the prevailing party. The White Pine Lumber Company is not a necessary party to this appeal, the issues before us arising exclusively between the appellant and the respondent as garnishee. Sipes v. Puget Sound Elec. R. Co., 50 Wash. 585, 97 Pac. 723; Wilson v. Puget Sound Elec. R. Co., 50 Wash. 596, 97 Pac. 727. The motion to dismiss is denied.
The controlling question before us is whether the respondent’s challenge to the sufficiency of the evidence was properly sustained. The appellant’s contention is, that the respondent subscribed for 100 shares of the capital stock of the White Pine Lumber Company; that he paid for 80 shares only; and that he was still indebted to the 'corporation in the sum of $2,000, his entire subscription for the remaining twenty shares. The respondent urges several reasons for sustaining the judgment of dismissal. We only find it necessary to discuss his contentions that he is not a stockholder, that he has not been one at any time since February, 1904,' and that he is not indebted to the corporation for any unpaid stock subscription.
• The appellant contends that while the stock transfer may be valid as between the respondent and his vendee, it is not sufficient in law to release the respondent from liability to the corporation or its creditors for his unpaid subscription, the stock not having been transferred upon the corporation books in strict compliance with the requirements of Bal. Code, §§ 4261, 4269 (P. C. §§ 7063, 7070). The stock certificate book unquestionably shows that respondent’s certificates were
“A transfer of stock, even if irregular, accepted and acquiesced in by the corporation, is binding upon it. Or, if a particular method of transfer has been adopted by the company through custom or use, or by general acquiescence of the shareholders, the company would be equally bound. This is beyond controversy.” Stewart v. Walla Walla Print. & Pub. Co., 1 Wash. 521, 20 Pac. 605.
See, also, Van Horn v. New Western Shingle Co., ante p. 117, 103 Pac. 42; 10 Cyc. 700, 701.
Considering the above authorities and the facts found, we
The judgment is affirmed.