 | New York (State). Court of Appeals, George Franklin Comstock, Henry Rogers Selden, Francis Kernan, Erasmus Peshine Smith, Joel Tiffany, Samuel Hand, Hiram Edward Sickels, Edward Jordan Dimock, Edmund Hamilton Smith, Edwin Augustus Bedell, Louis J. Rezzemini, Alvah S. Newcomb, James Newton Fiero - Law reports, digests, etc - 1850 - 614 pages
...however, that the 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 its creditors. (Case v. Grant, 15 Mass. 505 ; Spear v. Grant, 16 id. 92 ; Wood v. Dununer,... | |
 | 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 - Law reports, digests, etc - 1891 - 782 pages
...are stated in the opinion. Sweet & Perkins (Birney Hoyt, .of counsel), for complainant, contended: 1. The capital stock of a corporation is a trust fund for the benefit of its creditors; citing Wood v. Dummer, S Mason, 308; Spear v. Grant, 16 Mass. 9; Vose v.... | |
 | Connecticut. Supreme Court of Errors - Law reports, digests, etc - 1883 - 658 pages
...high^st nature known to the law. Calhoun v. Richardson, 30 Conn., 210 ; Salmon v. Richardson, id., 360. The capital stock of a corporation is a trust fund for the benefit of creditors, and cannot be dealt with by the corporation or its directors in such a way as... | |
 | Law - 1892 - 582 pages
...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 debts; its contention being that such a " bonus " issue of stock creates, in case of the subsequent... | |
 | William A. Shinn - Bankruptcy - 1875 - 624 pages
...by-law by the officers or directors of the company, furnishes no rule for a construction by this court. The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,... | |
 | Law - 1875 - 722 pages
...the company, furnishes no rule for a construction by this court. 6. Capital Stock л Trust Fund.— The capital stock of a corporation is a trust fund for the benefit of its creditors, and no transfer thereof can be made by which, as to creditors of the company,... | |
 | Law - 1876 - 860 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... | |
 | Jabez S. Holmes - Law reports, digests, etc - 1877 - 596 pages
...powers as to the dealings with trust estates. In Sawyer v. Ifoag, Mr. Justice Miller, speaking of the doctrine that the capital stock of a corporation is a trust fund for the benefit of the general creditors of the corporation as a doctrine of modern date, very pertinently... | |
 | United States. Circuit Court (4th Circuit) - Admiralty - 1877 - 684 pages
...Again, in the case of Webster v. Upton, Assignee, is it said (p. 71, 1 Otto) : "The whole subscribed capital stock of a corporation is a trust fund for the payment of creditors when the corporation becomes insolvent The stock cannot be released, ie, the liabilities... | |
 | Austin Abbott - Civil procedure - 1878 - 592 pages
...and holding of a 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... | |
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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... 
