A Treatise On the Doctrine of Ultra Vires : Being An Investigation of the Principles Which Limit the Capacities, Powers, And Liabilities of Corporations, And More Especially of Joint Stock Companies

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624, 8 R. L inent of which those engaged in them 554. See Chapinv. Sullivan BE., 3 N. H. have received authority from the legisla- 564 ; Henry v. Dubuque, tS:c.,BR. Co., 2 ture to take compulsorily tlie lands of Iowa, 288 ; Proprielors of Locks and others, making to the latter proper com- 470 PBIVILEGES.
Superfluous lands.
Another series of cases are those which have arisen in connection with the superfluous lands of privileged corporations. These lands in the first place can he taken only if b
...ond fide required for the purposes of the corporation ; ^ and secondly, if in the result it turns out that they are not required, then, in the absence of special pro- visions to the contrary,^ very seldom, and if the corporation he within the Lands Clauses Act, 1845, never can such lands he retained by the corporation.^ And any conveyance by the corpo- ration of such lands, even before the date at which it is to be determined whether or not they are superfluous, will be Ultra Vires and be set aside at the suit of a person who, if and when the lands should become superfluous, would have the right to purchase.* Corporations are, however, justified in utilizing their compulsory powers in such a way as to best benefit themselves.

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