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" It is too firmly established in the present day to be questioned that the capital stock of a corporation is a trust fund for the payment of its debts. "
Albany Law Journal - Page 279
1892
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Reports of Cases Decided in the Court of Appeals of the State of ..., Volume 3

New York (State). Court of Appeals, George Franklin Comstock, Henry Rogers Selden, Francis Kernan, Erasmus Peshine Smith, Joel Tiffany, Samuel Hand, Hiram Edward Sickels, Edward Jordan Dimock, Edmund Hamilton Smith, Edwin Augustus Bedell, Louis J. Rezzemini, Alvah S. Newcomb, James Newton Fiero - Law reports, digests, etc - 1850 - 614 pages
...however, that the creditors have no remedy against stockholders who have not paid up their subscription. The capital stock of a corporation is a trust fund for the security of its creditors. (Case v. Grant, 15 Mass. 505 ; Spear v. Grant, 16 id. 92 ; Wood v. Dununer,...
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 83

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - Law reports, digests, etc - 1891 - 782 pages
...are stated in the opinion. Sweet & Perkins (Birney Hoyt, .of counsel), for complainant, contended: 1. The capital stock of a corporation is a trust fund for the benefit of its creditors; citing Wood v. Dummer, S Mason, 308; Spear v. Grant, 16 Mass. 9; Vose v....
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Connecticut Reports: Containing Cases Argued and Determined in ..., Volume 49

Connecticut. Supreme Court of Errors - Law reports, digests, etc - 1883 - 658 pages
...high^st nature known to the law. Calhoun v. Richardson, 30 Conn., 210 ; Salmon v. Richardson, id., 360. The capital stock of a corporation is a trust fund for the benefit of creditors, and cannot be dealt with by the corporation or its directors in such a way as...
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The National Bankruptcy Register Reports: Containing All the ..., Volume 12

William A. Shinn - Bankruptcy - 1875 - 624 pages
...by-law by the officers or directors of the company, furnishes no rule for a construction by this court. The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,...
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The Central Law Journal, Volume 2

Law - 1875 - 722 pages
...the company, furnishes no rule for a construction by this court. 6. Capital Stock л Trust Fund.— The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,...
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The Southern Law Review: And Chart of the Southern Law and ..., Volume 2

Law - 1876 - 860 pages
...these three cases, as well as Scammon v. Kimball, follow the principle of Sawyer v. Hoag, 17 Wall. 610, that the capital stock of a corporation is a trust fund for the payment of its debts to its creditors, which must in all cases be applied to that purpose pro rata. Others of the cases...
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Reports of Cases Argued and Determined in the Circuit Court of United States ...

Jabez S. Holmes - Law reports, digests, etc - 1877 - 596 pages
...powers as to the dealings with trust estates. In Sawyer v. Ifoag, Mr. Justice Miller, speaking of the doctrine that the capital stock of a corporation is a trust fund for the benefit of the general creditors of the corporation as a doctrine of modern date, very pertinently...
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Reports of Cases Decided in the Circuit Courts of the United ..., Volume 1

United States. Circuit Court (4th Circuit) - Admiralty - 1877 - 684 pages
...Again, in the case of Webster v. Upton, Assignee, is it said (p. 71, 1 Otto) : "The whole subscribed capital stock of a corporation is a trust fund for the payment of creditors when the corporation becomes insolvent The stock cannot be released, ie, the liabilities...
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New Cases Selected Chiefly from Decisions of the Courts of the ..., Volume 2

Austin Abbott - Civil procedure - 1878 - 592 pages
...and holding of a certificate of the stock subjects the holder to the liabilities of a stockholder. The capital stock of a corporation is a trust fund for the payment of its debts, and the directors of the corporation, who are the trustees of the fund, will not be permitted to waste...
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A Treatise on the Liability of Stockholders in Corporations

Seymour Dwight Thompson - Corporation law - 1879 - 584 pages
...Effect of Doctrine that Capital Stock la a Trust Fund. — Recurring again to the familiar American doctrine that the capital stock of a corporation is a trust fund for the benefit and security of creditors,2 let us see whether the liability of a shareholder for unpaid balances...
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