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Sulphur Export Corp. v. Carribean Clipper Lines, Inc.
United States District Court for the Eastern District of Louisiana
277 F. Supp. 632 (1968)
Facts
On June 24, 1960, Sulphur Export Corporation (Sulexco) (plaintiff) entered into a voyage charter party with Carribean Clipper Lines, Inc. (Carribean) (defendant). The charter party was signed by Carribean’s president and secretary and Sulexco’s president. Carribean’s articles of incorporation stated that Carribean would not begin business until $1,000 in cash was paid in as capital. Contrary to Carribean’s articles of incorporation, Carribean's transaction with Sulexco occurred before the required capital was received. Charles Justice, Jr., Weeks Harrison, and John Paquette, who were directors and officers of Carribean, participated in the transaction of business by Carribean without receiving the required capital, and they did not dissent from the transaction. Following a dispute, Sulexco filed suit against Carribean and Justice, Harrison, and Paquette for breach of the charter party, claiming damages up to $23,533.50. Justice, Harrison, and Paquette were sued individually for violation of the corporate charter in violation of Louisiana law.
Rule of Law
Issue
Holding and Reasoning (Rubin, J.)
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