Report of the Case of the Trustees of Dartmouth College Against William H Woodw
Report of the Case of the Trustees of Dartmouth College Against William H Woodw
Plaintiff Dartmouth College
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A cor- poration considered as a faculfy, is an artificial, invisible bo- dy, existing only in contemplation of law : and can neither employ its franchises nor hold its property, for its own benefit. In another view, a corporation may be con- SUPERIOR COURT, NEW-HAMPSHIRE. 211 sidered as a body of individuals having collectively particu- lar faculties and capacities which Ihey can employ for their own benefit, or for the benefit of others, according to the purposes for which their particular fac...ulties and capacities were bestowed. In either view it is apparent, that all bene- ficial interests both in the franchises and the property of corporations, must be considered as vested in natural per- sons, either in the people at large, or in individuals ; and that with respect to this interest, corporations may be divided into publick and private. Private corporations are those which are created for the immediate benefit and advantage of individuals, and their franchises may be considered as privileges conferred on a number of individuals, to be exercised and enjoyed by them in the form of a corporation.
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