11.  A  stipulation  in  an  agreement  to  subscribe  for  shares  in  tiie  capital  stock  of  a  corporation
to  the  effect  that  the  installments,  when  collected,  are  to  be  applied  in  a  certain  way,  con-
stitnles  no  condition  to  their  payment.  The  stock  itself,  is  the  only  consideration  of  the
agreement,  and  the  subscription  is  absolute. — The  New  ABnmf,  jr.,  RaUroad  Co.  y.  FMs,
187;  The  Same  r.  Skaighiar,  218.
IS.  In  a  SQit  upon  such  an  agreement,  an  answer  setting  up  a  contemporaneous  yerbal  agree-
ment varying  its  terms,  is  bad  on  demnirer.-*/6iiof.
18.  Though  a  conditional  subscription  may  be  admitted,  yet  private  arrangements,  not  ex-
pressed in  the  subscription,  between  an  agent  of  a  company  and  a  subscriber,  by  which  he
is  to  have  peculiar  privileges  not  extended  to  other  subscribers,  or  by  which  Ms  subscrip-
tion is  not  to  be  collected, — being  made  to  induce  others  to  subscribe, — are  regarded  as
ihuidulent  on  other  subscribers,  and  are  no  defense  to  a  suit  for  the  amount  subscribed.—
Ibid.
14.  A  person  demanding  the  right  to  subscribe  to  the  capital-stock  of  a  corporation  is  not  re-
lieved from  the  necessity  of  making  a  tender,  by  the  statement  by  the  secretary  of  the  com-
pany that  he  has  no  stock  for  him. — Ohio  Inniranee  Co,  v.  Nunemaeher,  234.
15.  A  person  subscribing  to  the  capital-stock  of  a  corporation  conditionally,  is  not  to  be  con-
sidered a  stockholder,  or  as  liable  on  the  shbecription,  until  the  company  has  performed  the
condition  upon  which  his  undertaking  depends.  When  that  is  done,  he  becomes  a  stock-
holder by  force  of  the  agreement  of  the  parties,  and  the  subscription  becomes  absolute.—
I^EvantviUe,  ^.,  Ra3road  Co.  v.  S^ixtrer,  244.
