Supreme Court of North Carolina November 30, 1932 (Hood v. Martin)

lead-opinion

Clarkson, J.

The questions in this case are: (1) whether or not a stockholder in a bank who has been induced to purchase the stock from the bank through the fraud of its president can set up such fraud as a defense against the statutory liability for an assessment after the insolvency of the bank, under the North Carolina statute, amendment 1927, on the subject, the stockholder being