Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62
Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62
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In our eReader you can find the full English version of the book. Read Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62
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To quickly assess the difficulty of the text, read a short excerpt:
It is manifest that this act was designed to apply to companies wbich might efiect a consolidation afler its passage.
Oarrett v. Wiggins, 1 Scam. 335; Thompson v. Alexander, 11 111. 54; Marsh v. Chesnvi, 14 111. 223.
In the last case the court declared it to be a serious question, whether the legislature had the constitutional power to enact retroactive laws. ^ The company had the unquestioned right to mortgage its road and property to secure money borrowed, without any regard to the franchise;... upon default in payment, the trustee had the right to sell, and the purchasers at the sale acquired a good and valid title to the property, without any liability for other debts of the company than those secured by the mort- gage. The road and property had been legally transferred to the purchasers, even if the stockholders owned the corporate franchise ; and the latter was of very little benefit to them without the road and its equipments. ^ The purchasers then had obtained rights which could not be taken away or impaired by subsequent legislation ; and to give to this act a retroactive effect would create a new obligation, and impose a new duty, which did not exist under the laws in force at the time of the purchase.
What to read after Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62?
You can find similar books in the "Read Also" column, or choose other free books by Illinois. Supreme Court to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is manifest that this act was designed to apply to companies wbich might efiect a consolidation afler its passage.
Oarrett v. Wiggins, 1 Scam. 335; Thompson v. Alexander, 11 111. 54; Marsh v. Chesnvi, 14 111. 223.
In the last case the court declared it to be a serious question, whether the legislature had the constitutional power to enact retroactive laws. ^ The company had the unquestioned right to mortgage its road and property to secure money borrowed, without any regard to the franchise;... upon default in payment, the trustee had the right to sell, and the purchasers at the sale acquired a good and valid title to the property, without any liability for other debts of the company than those secured by the mort- gage. The road and property had been legally transferred to the purchasers, even if the stockholders owned the corporate franchise ; and the latter was of very little benefit to them without the road and its equipments. ^ The purchasers then had obtained rights which could not be taken away or impaired by subsequent legislation ; and to give to this act a retroactive effect would create a new obligation, and impose a new duty, which did not exist under the laws in force at the time of the purchase.
What to read after Reports of Cases At Law And in Chancery Argued ..., volume 32; volume 62?
You can find similar books in the "Read Also" column, or choose other free books by Illinois. Supreme Court to read onlineMoreLess
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