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Delaware Reports (Volume 6); Containing Cases Decided in the Supreme Court (Excepting Appeals from the Chancellor) and the Superior Court and the Orphans Court of the State of Delaware

Delaware Reports (Volume 6); Containing Cases Decided in the Supreme Court (Excepting Appeals from the Chancellor) and the Superior Court and the Orphans Court of the State of Delaware


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: stockholders. Ang. and Ames on Corp. 483. The change or alteration authorized by the Legislature may be so great an radical in the charter as to absolve the corporator from his contract with the company. Ang. and Ames on Corp. 485; The American Bank v. Baker et al., 4 Metcalf R. 164. On the- authority of that case he should contend, that as there was no proof before the jury that the defendant was present at the meeting which resolved to apply to the Legislature for the change of the charter, or at the meeting which resolved to change the route of the road from Dona River, and as there - was no evidence that he subsequently assented to them, that the company could not sustain this action against him. 2 Conn. R. 579; Day's Dig. 108; 4 Henn. and Mumf. 315; 5 Hill, 8 Mass. R., and 13 Illinois R., cited by his colleague. On the strength of these cases, which had never been overruled, he would venture to assert that even if it were proved that the defendant was present at these meetings, and assented to all these changes, the plaintiffs still could not recover in this action. The case in 17 Barb. R., the strongest against him cited on the other side, recognized and confirmed the decision in 5 Hill, on which they relied. In the case in 17 Barb. R., it was held that the change in the charter was but incidental to the original object of the incorporation, and was consequently an alteration to which the stockholder may be held to have impliedly assented, and therefore he was considered not to be discharged from his contract with the company. Mr. Bayard, for the plaintiff, cited Mercer County v. Coo- vert, 6 Watts and Serg. 70, arid gave the counsel on the other side an opportunity of replying to it if they desired to do so. Mr. Layton: A county was a quasi corporation, and as such wa...


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Product Details
  • ISBN-13: 9780217703079
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 220
  • Spine Width: 12 mm
  • Width: 189 mm
  • ISBN-10: 0217703070
  • Publisher Date: 03 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 399 gr


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Delaware Reports (Volume 6); Containing Cases Decided in the Supreme Court (Excepting Appeals from the Chancellor) and the Superior Court and the Orphans Court of the State of Delaware
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