This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1888 Excerpt: ...no adequate remedy to creditors or stockholders of a dissolved corporation, relief may be had in equity.8 382. Contract obligations survive dissolution.--It results that, on the dissolution of a corporate body, its general contract obligations survive, and the creditors may enforce their claims against any property ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1888 Excerpt: ...no adequate remedy to creditors or stockholders of a dissolved corporation, relief may be had in equity.8 382. Contract obligations survive dissolution.--It results that, on the dissolution of a corporate body, its general contract obligations survive, and the creditors may enforce their claims against any property belonging to the corporation which has not passed into the hands of bona fide purchasers.4 The property is still held in trust for the stockholders and creditors, and is distributed much in the same manner as the estate of a decedent.5 383. Effect of dissolution on leases to corporation.--A 1 Hightower v. Thornton, 8 Ga. 4.86; Comm'l Bank v. Lockwood's Admr., 2 Harr. (Del.) 8; Fox v. Horah, 1 Ired. Eq. (N. C.) 358; Malloy v. Mallett, 6 Jones Eq. (N. C.) 345; Bacon v. Robertson, 18 How. 480; President, etc. of Port Gibson v. Moore, 21 Miss. 157; Bank of Mississippi v. Duncan, 56 Miss. 173 8 Robinson v. Lane, 19 Ga. 338; McGoon v. Scales, 9 Wall. 23. In Bacon v. Robertson, 18 How. 487, Mr. Justice Campbell said: "The question is, has the bona fide and just creditor of a corporation, dissolved under a judicial sentence for a breach in its charter, any claim upon the corporate property for the satisfaction of his debt, apart from the reservation in the act of the legislature which directed the prosecution? Can the lands be resumed in disregard of their rights by vendors, who have received a full payment of their price, and executed an absolute conveyance? Can the careless, im provident, or faithless debtor plead the extinction of his debt, or of the creditor's claim, and thus receive protection in his delinquency? The creditor is blameless, --he has not participated in the corporate mismanagement, nor procured the judicial sentence;...
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Add this copy of A practical treatise on insolvent corporations: to cart. $30.01, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2010 by Gale, Making of Modern Law.
