Illustrative Cases On Private Corporations

Cover Illustrative Cases On Private Corporations
Illustrative Cases On Private Corporations
Elliott, Charles B. (Charles Burke), 1861-1935
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The principle involved in the case of Dodge v. Woolsey permits the stockholder in one of these corporations to step in between that corporation and the party with whom it has been dealing and institute and control a suit in which the rights involved are those of the corporation, and the controversy is one really between that corporation and the other party, each being entirely capable of asserting its own rights.
This is a very diflferent afifair from a controversy between the shareholder of a
...corporation and that corporation itself, or its managing directors or trustees, or the other shareholder, who may 284 THE RIGHTS OF MEMBERSHIP.
be violating his rights or destroying the property in which he has an interest. Into such a contest the outsider, dealing with the corporation through its managing agents in a matter within their authority, cannot be dragged, except where it is necessary to prevent 'an absolute failure of justice in cases which have been recognized as exceptional in their character and calling for the extraordinary^ powers of a court of equity.


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