Liabilities of Promoters, Incorporators, Subscribers, Stockholders, Directors and Officers of a Private Corporation1927 - Liability (Law) - 106 pages |
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Page 55
... benefit of , and directly to , creditors , and can only be enforced by them . The liability is not imposed for the benefit of the corporation , and is not in any sense a part of its assets and , unless so provided by statute it cannot ...
... benefit of , and directly to , creditors , and can only be enforced by them . The liability is not imposed for the benefit of the corporation , and is not in any sense a part of its assets and , unless so provided by statute it cannot ...
Page 58
... benefit of its creditors insofar as such payment may be necessary to satisfy their claims . This liability of stockholders is very generally based by the courts upon the ground that the capital stock of a corporation is a trust fund for ...
... benefit of its creditors insofar as such payment may be necessary to satisfy their claims . This liability of stockholders is very generally based by the courts upon the ground that the capital stock of a corporation is a trust fund for ...
Page 64
... benefit of the creditors of the bank , and the court also held that a shareholder who is also a creditor of the bank cannot set offits indebtedness to him , against his con- stitutional liability for its debts . In Runner , Assignee v ...
... benefit of the creditors of the bank , and the court also held that a shareholder who is also a creditor of the bank cannot set offits indebtedness to him , against his con- stitutional liability for its debts . In Runner , Assignee v ...
Contents
Liabilities as Between Promoters | 9 |
Procedure by Corporation | 14 |
Chapter II | 16 |
6 other sections not shown
Common terms and phrases
absence agents agreement assessment assets assumpsit behalf benefit binding breach of trust capital stock charter common law condition precedent consent contract corp corporate debts corporate officers courts Crawfordsville CREDITORS AND THIRD cription duty Eagle Cotton Mills ectors enabling act enforce Equity estoppel existence expressly fact facto faith fiduciary relation fraud fraudulent funds gonally guilty held hold holders hundred percent ility impairment of capital imposed incorporation paper Indiana individual iness issue jurisdiction Liabilities of Directors LIABILITIES OF PROMOTERS LIABILITIES OF SHAREHOLDERS liable to creditors loss Miller misappropriation mismanagement National Bank negligence number of shares orate Officers Ordinarily paid par value party payment purchase recover damages remedy rule scriber secret profit severally liable special terms statutory liability stockholders subscribe for stock suit take shares thereof third persons torts transaction ultra vires unless unpaid subscription valid violation weight of authority