Excerpt from Declarations of Trust as Effective Substitutes for Incorporation New Jersey, General Statutes, 1896, p. 2240 Ohio, General Code, 1910, Sec. 8059; New York, Joint Stock Association Laws, Con solidated Laws of N. Y. P. 1873-1870. While these joint stock companies have an artificial edllljy, they do not provide against individual liability as uoes incorporation. They possess some of the character ist1cs of corporations and some of the characteristics of cc partnerships. However, they are organized under enabling ...
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Excerpt from Declarations of Trust as Effective Substitutes for Incorporation New Jersey, General Statutes, 1896, p. 2240 Ohio, General Code, 1910, Sec. 8059; New York, Joint Stock Association Laws, Con solidated Laws of N. Y. P. 1873-1870. While these joint stock companies have an artificial edllljy, they do not provide against individual liability as uoes incorporation. They possess some of the character ist1cs of corporations and some of the characteristics of cc partnerships. However, they are organized under enabling statutes which enlarge the privileges possessed at common law, and they are, therefore, subject to State regulations, which may be equally burdensome to those imposed upon corporations. An organization under the common law, with no special privilege or franchise from legislative authority, is the organization that can do the same acts asan individual, with no further restrictions than are placed upon individuals. Such an organization is afforded by the declarations of trust herein set forth. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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