The Buffalo & Jamestown Railroad Company, Respondent v. Horace H. Gifford, Appellant

Summary

The Court of Appeals affirmed the judgment that the defendant was liable for the unpaid balance of his stock subscription. It held that the pre‑formation subscription was valid under common law and the statute, that the plaintiff's failure to complete the railroad to the state line did not release the defendant, and that the later foreclosure of the railroad's mortgage provided no defense.