...Rule. holders of unpaid shares, and totally obliterate the doctrine of that and other American Courts, that the capital stock of a corporation is a trust fund for its creditors." Of Clark v. Bet-er, supra, he says (§ 1GG.~>), that it "in its reasoning goes to the...

...ves itself into an insistance that the declaration of dividends was erroneous and therefore illegal. The capital stock of a corporation is a trust fund for the payment of creditors. This lies at the basis of the doctrineof the illegality of dividends which encroach on the...

...could not claim any portion of the assets, because the American doctrine, as said by Thompson is, " that the capital stock of a corporation is a trust fund for the security and benefit of creditors." And as the wheel company is insolvent, its assets less in value...

...in respect to that particular defect only, and the duty of inquiry extends no further; That although the capital stock of a corporation is a trust fund for the benefit of its creditors, who have an equitable lien thereon, both as against the stockholders and...

...not to be binding upon its creditors." And In the same case the court said: "The wholesome doctrine that the capital stock of a corporation is a trust fund for the payment of its debts, rests upon the idea that the creditors have a right to rely upon the fact that the subscribers to such...

...23 L. Ed. 220, it is said: "The capital stock of an incorporated company Is a fund set apart for tbe payment of its debts. It is a substitute for the personal liability which subsists in private copartnerships. When debts are Incnrred. a contract arises with the creditors...

...would have been, had they converted the property to their own use. -9. CORPORATIONS — CAPITAL STOCK. The capital stock of a corporation is a trust fund for the benefit of creditors and neither the board of directors nor the corporation can give it away or divert...

...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...

...limitation that the rights of creditors must not be prejudiced. And this limitation — upon the ground that the capital stock of a corporation is a trust fund for its creditors — has been applied in favor of a creditor who became such subsequent to the agreement...

...corporators owe to the corporation or its creditors. — Trippe v. Huncheon, 82 Ind. 307. [c] (Sup. 1897) The capital stock of a corporation is a trust fund for the payment of its creditors, and, when a stockholder has paid the full par value of his stock, his liability is terminated,...