 | William A. Shinn - 1879 - 636 pages
...the bankrupt would be bound Though it be a doctrine of modern date, we think it now well established that the capital stock of a corporation is a trust fund for the benefit of the general creditor of the corporation." (Sawyer v. Hbag, 9 NB R, 145, 17 Wall., 610.)... | |
 | 1879 - 552 pages
...direction of honesty and fair dealing. In 1824, the fertile brain of Mr. Justice Story invented the doctrine that the capital stock of a corporation is a trust fund or pledge for the payment of its creditors. Woodv. Dummer, 3 Mason, 308. This doctrine, founded in... | |
 | Austin Abbott - 1879 - 612 pages
...however, that 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 creditors ;" and cite the provision of the Revised Statutes, referred to above, as enacted... | |
 | 1881 - 1900 pages
...HM Campbell and Alfred 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 this... | |
 | United States. Circuit Court (1st Circuit), William Henry Clifford - 1880 - 728 pages
...bankrupt would be bound. . . . Though it be a doctrine of modern date, we think it now well established that the capital stock of a corporation is a trust fund for the benefit of the general creditors of the corporation." Sawyer v. Hoag, 17 Wall. 619. To the same effect... | |
 | 1885 - 1902 pages
....there is a fatal objection to the application of any of the equitable principles sought to be invoked. The capital stock of a corporation is a trust fund for the benefit of all creditors. It is pledged to those who deal with the corporation for their security.... | |
 | 1881 - 628 pages
...enter judgment for want of a sufficient affidavit of defence. CJ Erdman, for the plaintiff in error. The capital stock of a corporation is a trust fund for the payment of its debts. Wood v. Dummer, 3 Mason, 308. Germantown Pass. RW Co. v. Filler, 10 Smith, 124. There is no such mutuality... | |
 | 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 have it... | |
 | Isaac Grant Thompson - 1882 - 962 pages
...successfully." Most of the cases, certainly in this country, recognize and are based on the doctrine, the capital stock of a corporation is a trust fund for the security of its creditors that the directors have no rightful authority to misappropriate or give away.... | |
 | 1876 - 870 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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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. 
