 As a creditors' bill, in the ordinary sense, the complaint is manifestly insufficient. The thresher company, however, plants itself upon the so-called "trust-fund" doctrine .that the capital stock of a corporation is a trust fund for the payment of its...  Albany Law Journal - Page 2791892Full view - About this book
 | 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 - 1914 - 828 pages
...does not depend upon any express statute granting it, but rests upon the general equitable doctrine that the capital of a corporation is a trust fund for the benefit of its creditors, and that those to whom it has been refunded will be held trustees for their... | |
 | 1876 - 860 pages
...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... | |
 | Austin Abbott - 1878 - 592 pages
...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... | |
 | United States. Circuit Court (1st Circuit), William Henry Clifford - 1880 - 728 pages
...questioned after the numerous decisions by the Supreme Court of the United States. The capital stock of a corporation is a trust fund for the payment of its debts, publicly pledged to all who deal with it. Ogilvie v. Insurance Company, 22 How. 387. » It is... | |
 | 1904 - 1126 pages
...void. In discussing this principle in his work on Corporations, Mr. Thompson says : "If the doctrine that the capital of a corporation Is a trust fund for the security of Its creditors Is any more than an empty and Idle collection of words, then the principle... | |
 | 1881 - 1900 pages
...Russell, for complainant. CA Kent and F, A. Baker, for defendants. BROWN, DJ That the capital stock of a corporation is a trust fund for the payment of its debts, and that the law implies a promise by the subscribers of stock to pay its par value, which in... | |
 | 1881 - 628 pages
...without paying debts — Consequent liability of stockholders — How the liability is to be enforced. The capital of a corporation is a trust fund for the payment of creditors; stockholders who diminish that fund I>y distribmion among themselves, without first providing... | |
 | Nathan Howard (Jr.), Rowland M. Stover - 1882 - 666 pages
...and see Wintringham agt. Wintringham, 20 <7oAw., 297). It is suggested, however, that the property of a corporation is a trust fund for the payment of its debts, and that whenever it has been wrongfully and fraudulently diverted, creditors may reach and... | |
 | 1876 - 870 pages
...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... | |
 | Illinois. Appellate Court, James Bolesworth Bradwell - 1883 - 722 pages
...Kuren, 22 low.-i 226; Hughes v. Corey, 20 Iowa, 399; Stevens v. Dilhnan, 86 II1. 233. The capital stock of a corporation is a trust fund for the payment of its debts: Ogilvie v. Ins. Co. 22 How. 387. A corporation can not give away its stock and issue paid up... | |
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