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" The capital stock of an incorporated company is a fund set apart for the payment of its debts. It is a substitute for the personal liability which subsists in private copartnerships. When debts are incurred, a contract arises with the creditors that it... "
Reports of Cases Decided in the Supreme Court of the State of South Dakota - Página 232
por South Dakota. Supreme Court - 1908
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Reports of Cases Decided in the Court of Appeals of the State of ..., Volume 3

New York (State). Court of Appeals, George Franklin Comstock, Henry Rogers Selden, Francis Kernan, Erasmus Peshine Smith, Joel Tiffany, Samuel Hand, Hiram Edward Sickels, Edward Jordan Dimock, Edmund Hamilton Smith, Edwin Augustus Bedell, Louis J. Rezzemini, Alvah S. Newcomb, James Newton Fiero - 1850 - 614 páginas
...however, that the creditors have no remedy against stockholders who have not paid up their subscription. The capital stock of a corporation is a trust fund for the security of its creditors. (Case v. Grant, 15 Mass. 505 ; Spear v. Grant, 16 id. 92 ; Wood v. Dununer,...
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 83

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - 1891 - 782 páginas
...are stated in the opinion. Sweet & Perkins (Birney Hoyt, .of counsel), for complainant, contended: 1. The capital stock of a corporation is a trust fund for the benefit of its creditors; citing Wood v. Dummer, S Mason, 308; Spear v. Grant, 16 Mass. 9; Vose v....
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Connecticut Reports: Containing Cases Argued and Determined in ..., Volume 49

Connecticut. Supreme Court of Errors - 1883 - 658 páginas
...high^st nature known to the law. Calhoun v. Richardson, 30 Conn., 210 ; Salmon v. Richardson, id., 360. The capital stock of a corporation is a trust fund for the benefit of creditors, and cannot be dealt with by the corporation or its directors in such a way as...
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Albany Law Journal, Volume 24

1881 - 572 páginas
...Assignee, 91 US 60, this court said: "The capital stock of an incorporated company is a fund set apart for the payment of its debts. It is a substitute for the personal liability which subsists in private copartnerships. When debts are incurred, a contract arises with the creditors...
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Albany Law Journal, Volume 24

1881 - 572 páginas
...Assignee, 91 US 60, this court said: "The capital stock of au incorporated company is a fund set apart for the payment of its debts. It is a substitute for the personal liability which subsists iu private copartnerships. When debts are incurred, a contract arises with the creditors...
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Albany Law Journal, Volume 45

1892 - 582 páginas
...by an individual; that the same principles of law apply to each. That the phrase that " the capital of a corporation is a trust fund for the payment of its creditors" is misleading, if not inaccurate, is illustrated by the character of the actions that are...
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The National Bankruptcy Register Reports: Containing All the ..., Volume 12

William A. Shinn - 1875 - 624 páginas
...by-law by the officers or directors of the company, furnishes no rule for a construction by this court. The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,...
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The Central Law Journal, Volume 2

1875 - 722 páginas
...the company, furnishes no rule for a construction by this court. 6. Capital Stock л Trust Fund.— The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,...
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The Southern Law Review: And Chart of the Southern Law and ..., Volume 2

1876 - 860 páginas
...these three cases, as well as Scammon v. Kimball, follow the principle of Sawyer v. Hoag, 17 Wall. 610, that the capital stock of a corporation is a trust fund for the payment of its debts to its creditors, which must in all cases be applied to that purpose pro rata. Others of the cases...
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The N.Y. Weekly Digest of Cases Decided in the U.S. Supreme ..., Volume 2

1876 - 668 páginas
...justified in calling in the entire balance. •2. The capital stock of a corporation is a fund set apart for the payment of its debts ; it is a substitute for the personal liability which subsists in private copartnerships ; when debts are incurred, a contract arises with the creditors...
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