The Buffalo and N.Y. City R.R. Co. Against Dudley.

Summary

The New York Court of Appeals affirmed the lower court's judgment, holding that the plaintiff's complaint was sufficient to state a cause of action based on the defendant's stock subscription, that the subscription creates an implied promise to pay regardless of whether it is expressed, that charter amendments do not discharge the subscriber's liability, and that forfeiture is a cumulative remedy that does not bar a common law action for the unpaid amount.