William H. Aspinwall, Respondent v. Gustave A. Sacchi, Impleaded

Summary

The Court affirmed the judgment ordering the stockholders of the Mexican Ocean Mail and Inland Company to contribute proportionally to debts that one stockholder had paid. It held that statutory liability under sections 5 and 6 of the 1852 act is enforceable despite the corporation's failure to file the required capital stock certificate, and that a defect in incorporation does not shield shareholders who acted as de facto owners.