A Treatise On the Law of Private Corporations
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(Pa.) 479 ; S.
C, 18 Bankr. Keg. 178. "The pub- lic has a right to assume, where the stock of a company has all been issued , as full-paid stock, that it has been paid for in full in money, or in pro- perty at a fair value." Gofi' v. Hawk- eye Pump, etc.' Co., 62 Iowa, 691, 694, opinion of court per Adams, J.
Where a corporation issued all its Stock for a patent which turned out worthless, the stockholders were held 638 liable to creditors. Chisholm Bros.
0. Forney, 65 Iowa, 333.
* Jackson v. T...raer, 64 Iowa, 469 ; Freeman !>. Stine, 15 Phila. (Benn.) 37 ; Crawford v. Rohrer, 59 Md. 599 ; Osgood V. King, 42 Iowa, 478 ; see also Wctherbee v. Baker, 35 N. J.
Eq. 501. But see the remarkable decision, In re South Mountain Con- solidated M'g Co., 14 Fed. Rep: 347.
Where stock is issued in good faith for property supposed to equal in value the amount of stock issued for it, the subscriber will not be liable to credi- tors because subsequent events show that the property was worth less.
Coit V.
What to read after A Treatise On the Law of Private Corporations?
You can find similar books in the "Read Also" column, or choose other free books by Taylor, Henry Osborn, 1856-1941 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
(Pa.) 479 ; S.
C, 18 Bankr. Keg. 178. "The pub- lic has a right to assume, where the stock of a company has all been issued , as full-paid stock, that it has been paid for in full in money, or in pro- perty at a fair value." Gofi' v. Hawk- eye Pump, etc.' Co., 62 Iowa, 691, 694, opinion of court per Adams, J.
Where a corporation issued all its Stock for a patent which turned out worthless, the stockholders were held 638 liable to creditors. Chisholm Bros.
0. Forney, 65 Iowa, 333.
* Jackson v. T...raer, 64 Iowa, 469 ; Freeman !>. Stine, 15 Phila. (Benn.) 37 ; Crawford v. Rohrer, 59 Md. 599 ; Osgood V. King, 42 Iowa, 478 ; see also Wctherbee v. Baker, 35 N. J.
Eq. 501. But see the remarkable decision, In re South Mountain Con- solidated M'g Co., 14 Fed. Rep: 347.
Where stock is issued in good faith for property supposed to equal in value the amount of stock issued for it, the subscriber will not be liable to credi- tors because subsequent events show that the property was worth less.
Coit V.
What to read after A Treatise On the Law of Private Corporations?
You can find similar books in the "Read Also" column, or choose other free books by Taylor, Henry Osborn, 1856-1941 to read onlineMoreLess
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