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action agreement amount appointment Assín assets authority Ballantine Law Bank board of directors bona fide purchaser bylaws capital stock certificate charter claim consolidation contract conversion corporate existence corporate stock corporationís court court of equity creditors cumulative voting debts defendant defendantís derivative suit Detroit dissolution dividends entitled equity estopped estoppel execution fact filed Fletcher Cyc foreign corporation franchise fraud fraudulent Grand Rapids held holders incorporation insolvent L.Ed Law 2nd lease liability lien Lumber manager ment Michigan statute mortgage organized owner paid party payment Perm person plaintiff pledge Polish American poration preferred stock president profits purchase purpose ratified ration receiver recover rule securities sell service of process shareholders shares Stats statutory stockholders subscriber subscription suit thereof tion transaction transfer Trust ultra vires valid vote Wilgus & Hamilton