1. Corporations (§ 264*) — Stockholder’s Liability — Accrual of Cause of Action.

A stockholder’s liability under a judgment against the corporation for negligent death accrued not on the date of judgment, but when the accident occurred, within Code Civ. Proc. Cal. § 359, requiring an action to enforce a stockholder’s liability to be brought within three years after discovery of the facts upon which the liability was created.

[Ed. Note. — For other cases, see Corporations, Cent. Dig. §§ 10S4-109S; Dec. Dig. § 264;* Limitation of Actions, Cent. Dig. §§ 327, 343, 347, 349.]

2. Bankruptcy (§ 314*) — “Debts Provable” — Outlawed Claims — “Provable Claim.”

A debt barred by limitations is not a “provable claim” within the bankruptcy act.

[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 314.* For other definitions, see Words and Phrases, vol. 6, p. 5746; vol. 2, p. 1882.]

8. Corporations (§ 340*) — Indebtedness—Statutory Limitation — Operation — “Debt.”

A judgment against a corporation for negligent death is not a “debt” within Civ. Code Cal. § 309, making directors of a corporation jointly and severally liable, without the benefit of limitations, on debts created beyond the amount of the subscribed capital stock of the corporation.

[Ed. Note. — For other cases, see Corporations, Cent. Dig. §§ 1473-1478; Dee. Dig. § 340.*

For other definitions, see Words and Phrases, vol. 2, pp. 1202-1211, vol. 8, p. 7604.]

i Bankruptcy (§ 315*) — “Debts Provable” — Judgments for Tort.

A judgment for negligent death is a debt provable in bankruptcy under Bankruptcy Act July 1, 1898, c. 541, § 63a(l), 30 Stat. 562 (U. S. Comp. St. 1901, p. 3447), as a fixed liability evidenced by judgment.

[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 315.*]

5. Bankruptcy (§ 318*) — “Debts Provable” — Stockholder’s Liability.

A stockholder’s liability for an unpaid stock subscription is a debt provable in bankruptcy under Bankruptcy Act July 1, 1898, c. 541, § 63a(4), 30 Stat. 563 (U. S. Comp. St. 1901, p. 3447), as a debt founded on contract.

[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 31S.*]

6. Pleading (§ 214*) — Admission by Demurrer.

Where a petitioner in an involuntary bankruptcy proceeding relies on a judgment, and the petition states that the judgment is in full force, on demurrer to the petition the debtor cannot claim that the judgment is not final because a motion for new trial is pending, since the demurrer admits the truth of the allegations of the petition.

[Ed. Note. — For other cases, see Pleading, Cent. Dig. § 525-534; Dec. Dig. § 214.*] .

7. Corporations (§ 260*) — Unpaid Subscriptions — Creditors’ Suits.

A final judgment against an insolvent corporation though founded on tort is sufficient, to sustain a creditor’s suit to reach whatever remains unpaid on stock subscriptions.

[Ed. Note. — For other cases, see Corporations, Cent. Dig. §§ 1051, 1052; Dec. Dig. § 260.*]

8. Corporations ( 259*) — Stockholders—Liability to Creditors.

There being no privity between a stockholder and the creditors of the corporation, the corporation, but not a creditor, can sue at law to recover unpaid stock subscriptions.

[Ed. Note. — For other cases, see Corporations, Cent. Dig. |§ 1050-1067; Dec. Dig. § 259.*]

9. Corporations (§ (55*) — Stock—Nature.

The stock of each shareholder in a California corporation merely represents his proportional interest in the corporation; fixing the amount which he has paid or must pay as his contribution to the corporate assets.

[Ed. Note. — For other eases, see Corporations, Cent. Dig. §§ 163-171; Dec. Dig. § 65.*]

10. Corporations (§ 247*) — Stockholders—Individual Liability.

The governing officers of a corporation cannot release a stockholder from liability to pay his subscription to the prejudice of creditors, except by fair dealing and for a valuable consideration.

[Ed. Note. — For other eases, see Corporations, Cent. Dig. §§ 983-997; Dec. Dig. § 247.*]

11. Bankruptcy (§ 814*) — “Debts Provable” — Equitable Claims.

Under Bankruptcy Act July 1, 1898. c. 541, § 2, 30 Stat. 545 (U. S. Comp. St. 1901, p. 8420), giving courts of bankruptcy jurisdiction at lajv and in equity, equitable claims are provable if within the purview of the general rules of equity, even though they have no status at law.

[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 814.*]

12. Words and Phrases — “Creditor.”

A “creditor-’ is one who has a right to require the fulfillment of a contract or obligation; one to whom any obligation is due.

[Ed. Note. — For other definitions, see Words and Phrases, vol. 2, pp. 1713-1727; vol. 8, pp. 7622-7623.]

13. Bankruptcy (§ 70*) — Involuntary Proceedings — Who may Institute.

One holding a judgment against an insolvent corporation for negligent death has an equitable right to enforce payment of a stockholder’s unpaid stock subscription, and for that purpose is a creditor who may bring involuntary bankruptcy proceedings against the stockholder.

[Ed. Note. — For other cases, see Bankruptcy, Dee. Dig. § 76.*]

14. Bankruptcy (§ 59*) — Acts oe Bankruptcy — -“Legal Proceedings.”

Attachment proceedings are “legal proceedings” within Bankruptcy Act July 1, 1898, e. 541, § 3a(3), 30 Stat. 546 (U. S. Comp. Si-. 1901, p. 3422), which makes ii an act of bankruptcy for an insolvent person to permit a creditor to obtain a preference through legal proceedings.

[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 59.* For other definitions, see Words and Phrases, vol. 5, pp. 40(57, 4068.]

15. Bankruptcy (§ 59*) — “Act oe Bankruptcy” — Permitting Attachment.

By failing to file a voluntary petition in bankruptcy to vacate an attachment Hen before expiration of four months after the attachment one commits an “act of bankruptcy” within Bankruptcy Act July 1, 1898, e. 541, § 3a©), 30 Stat. 546 (U. S. Comp. St. 1901. p. 3422), making it an act of bankruptcy for an insolvent person to permit a creditor to obtain a preference through legal proceedings.

[Ed. Note. — For other cases, see Bankruptcy, Cent. Dig. §§ 81, 82; Dec. Dig. £ 59.*

For other definitions, see Words and Phrases, vol. 1, p. 1.18; vol. 8, p. 75(52.]