Stilphen v. Ware
Synopsis
Statute oe Limitations as to Stockholders oe Corporation.—A creditor of a corporation, who seeks to make the stockholders liable for his demand, must bring his action against them within the time prescribed by the Statute of Limitations. The statute begins to run when the debt falls due, and the time prescribed by the Statute of Limitations is not extended, as to the right to sue the stockholders, by a judgment against the corporation.
By the Court: It is conceded that irrespective of the judgment rendered against the corporation itself, the cause of action stated in the complaint is barred by limitation, and if this be so, it is clear that the judgment did not of itself operate to prolong the time in which an action might be brought against the defendants as stockholders of the corporation. (Davidson v. Rankin, 34 Cal. 503; Larrabee v. Baldwin, 35 Cal. 168; Young v. Rosenbaum, 39 Cal. 646.)
Judgment affirmed.
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