The American And English Railroad Cases (volume 6); A Collection Of All The Railroad Cases In The…

Paperback | February 2, 2012

byGreat Britain. Courts

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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. 1882. Excerpt: ... party of the facts constituting the fraud complained of; but this does not absolve him from all effort or diligence to obtain such knowledge, and facts of which he might have obtained knowledge had he sought it from its natural sources of information which were at his command, will be deemed within his knowledge. The property of a corporation is a trust fund for the benefit of the stockholders in the hands of a corporate body, which is the trustee; but capital stock in the corporation in the hands of its owner, who has paid for it, is neither a trust fund, nor is its owner a trustee, and statutes of repose run to protect such owner in his right to such property. Taylor v. S. and N. Alabama E. R Co. IL S. C. C, M. D. Ala., 13 Fed. Rep. 152. Plaintiffs complaint alleged in substance that the railroad and franchises of the T., W. and W. R. R. Co., of which he was a stockholder, were sold under a decree of foreclosure and were bid off by a committee of the holders of the bonds secnred by the mortgage; that a portion of the stockholders disputed the validity of the sale and a litigation arose which resulted in an arrangement under which said stockholders withdrew all opposition and were accorded by the purchasers of the road the right to take stock in a new company to be organized, upon certain terms specified, among others, that the option so to do must be made within thirty days, otherwise all rights should be forfeited; that in pursuance of this arrangement defendant, the W. R. Co., was organized and is operating the road and possesses the rights and property of the old company and has issued stock under the agreement; that plaintiff had no knowledge or notice of the agreement until after the expiration of the thirty days; that when notified he tendered per...

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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. 1882. Excerpt: ... party of the facts constituting the fraud complained of; but this does not absolve him from all effort or diligence to obtain ...

Format:PaperbackDimensions:308 pages, 9.69 × 7.44 × 0.65 inPublished:February 2, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217570062

ISBN - 13:9780217570060

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