Page:Federal Reporter, 1st Series, Volume 3.djvu/756

 MORLBY V. THAYEB. 749 �persons who were stockholders at the tîme of such dissolu- tion, without joining the corporation in such suits. Nothing is found in that language to justify an inference that the legislature intended to give the creditors a creditors' bill as a remedy, but the whole scope of the sentence points to an action at law. Confirmation of that flows from what foUows, as the parties, if they pay more than their proportion, are plainly given an action for contribution, after the creditor or creditors, as the case may be, have had judgment and execu- tion in their favor, and have collected the amount. Support to that view is also derived from the fact that the bill shows no equity. Both parties agree that the statute does not charge the stockholders generally for the debts of the corpo- ration. Nothing of the kind is alleged or pretended in argu- ment ; and, if it were, it could not be supported for a moment, as the statute provides that no stockholder shall be liable to pay the debts of the corporation beyond the amount due on his stock, and an additional amount equal to the stock owned by him, which brings the case within the admitted definition 'Of a Btatutory liability, from which it follows that, if the statute provides the mode of enforcement, that mode is exclu- sive of ail others, and must be foUowed. �Eesort to equity is wholly unnecessary in this case, the facjts showing that the complainants, if they have any claim, may enf orce it in a suit at law ; nor bas the court any discretion upon the subject, as it is reasonably plain that an action at law is the remedy contemplated by the legislature; or, if not, then it is plainly a case where a liability is imposed by stat- ute, without providing the means for its enforcement, in which the general rule is that it must be enforced by an appropriate common law action. Bollard v. Baïley, 20 Wàll. 520, 527 ; Knowlton v. Ashley, 8 Cush. 93-97. For these reasons I am of the opinion that there is no equity in the bill, and that the demurrer must be sustained. �Decree for the respondents, dismissing the bill of complaint. ����