...in equity, according to the nature of the injury. It is a doctrine peculiar to the American courts that the capital stock of a corporation is a trust fund for the benefit of its creditors and that the officers and agents of the company, who are the custodians of...

...a reason •for the action of the courts in many cases, is "The American Doctrine," as it is known, that the capital stock of a corporation is a trust fund for the creditors, and should be administered as such by courts of equity. There has never been given by able...

....-Union Bank, 168 id. 519; Blair v. Illinois Steel Co. 159 id. 350. The doctrine that the property of a corporation is a trust fund for the payment of its debts only means that the property must first be appropriated to the payment of the debts of the company...

...Bnalcy, 7 Fed. Rep. 785; Snicyer v. Hoag. 84 U. 8. 17 Wall. 610 (21:731); Wood v. Dummer, 3 Mason, 308. The capital stock of a corporation is a trust fund for the payment of its creditors. tiawyer v. Hoag, 84 U. 8. 17 Wall. 610 (21: 731); Upton v. Tribilcock, 91 US 45 (23:203);...

...the student who comes to the Bar to-day should know, for example, what is meant by the proposition that the capital stock of a corporation is a trust fund for the payment of creditors, as it is that he should know the points of distinction between a contingent remainder and...

...Uplon, 91 US 56, 60, as follows : "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 liabilities which subsists in private co-partnerships. When debts are incurred, a contract arises with...

...1343, 1 345. See also: NY Gen. Bus. L §§ 349-350. One venerable case went so far as to state: ". . . the capital stock of a corporation ... is a trust fund for the benefit of the general creditors of the corporation ... it is no solid objection to such a principle...

...Upton, $)1 U. S. 56, 23 L. Ed. 220: '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. AVhen debts are incurred, a contract arises with the creditors...

...or about $7,254 more than the reasonable value of such works. Upon the premise so well established, that the capital stock of a corporation is a trust fund for the benefit of its creditors, the very reasonable deduction has been made by the courts that where an agreement...