The Doctrine of Ultra Vires: Illustrated and Explained by Selected Cases, Classified and Fully Annotated |
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Page 34
... objects which are distinctly defined by act of Par- liament , cannot be allowed to apply them to any other pur- pose whatever , however beneficial or advantageous it may ap- pear either to the company or to individual members of the ...
... objects which are distinctly defined by act of Par- liament , cannot be allowed to apply them to any other pur- pose whatever , however beneficial or advantageous it may ap- pear either to the company or to individual members of the ...
Page 39
... object of the directors be to increase the profit of their own railway . This , in truth , is the same proposition in another form ; for , if the company cannot carry on a new trade , merely because it was not contemplated by the act ...
... object of the directors be to increase the profit of their own railway . This , in truth , is the same proposition in another form ; for , if the company cannot carry on a new trade , merely because it was not contemplated by the act ...
Page 40
... object of that liability is to increase the traffic upon the railway , and thereby to increase the profit of the shareholders . There is , however , no authority for any- thing of that kind . " So in Salomons v . Laing , 12 Beavan , 352 ...
... object of that liability is to increase the traffic upon the railway , and thereby to increase the profit of the shareholders . There is , however , no authority for any- thing of that kind . " So in Salomons v . Laing , 12 Beavan , 352 ...
Page 46
... object of its charter ; and although it devolved some of its administrative duties to others , the su- pervision of the directors was not withdrawn , and the rights of the shareholders were carefully secured . Robbins v . Em- bry , 1 ...
... object of its charter ; and although it devolved some of its administrative duties to others , the su- pervision of the directors was not withdrawn , and the rights of the shareholders were carefully secured . Robbins v . Em- bry , 1 ...
Page 47
... object for which the company was formed , and would have been valid at common law if made by a corporation created by charter . A corporate body may ( at common law ) do any act which is not either expressly or impliedly prohibited by ...
... object for which the company was formed , and would have been valid at common law if made by a corporation created by charter . A corporate body may ( at common law ) do any act which is not either expressly or impliedly prohibited by ...
Other editions - View all
The Doctrine of Ultra Vires: Illustrated and Explained by Selected Cases ... George Washington Field No preview available - 2015 |
The Doctrine of Ultra Vires: Illustrated and Explained by Selected Cases ... G. W. Field No preview available - 2017 |
The Doctrine of Ultra Vires: Illustrated and Explained by Selected Cases ... G. W. Field No preview available - 2017 |
Common terms and phrases
act of Parliament action agents agreement alleged amount application authority Bank benefit bill bind bonds charter city council claim commissioners common seal conferred construction contract Counties Railway Company court court of equity decision deed defendants directors Ditch Company doctrine Dubuque duty Eastern Counties Railway entered equity estopped Eureka Lake Water executed expressly fact franchises funds Gnosall granted ground held highway illegal incorporated interest issued judgment Justice Lake Water Company lease legislature liable loan Lynn and Ely Mayor ment Miners mortgage municipal corporation notes object officers opinion paid pany pari delicto party payment persons plaintiff poration possession principle prohibited promissory notes purchase purpose question quo warranto Railroad Company received recover restrain road rule scrip seal shareholders Shrewsbury Shropshire statute stockholders suit tion town transaction trustees ultra vires unauthorized valid void vote Wabash Railroad warrants
Popular passages
Page 88 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt...
Page 98 - ... all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this title.
Page 481 - ... where it may be gathered from the legislative enactment that the officers of the municipality were invested with power to decide whether the condition precedent has been complied with, their recital that it has been, made in the bonds issued by them and held by a bona fide purchaser, is conclusive of the fact and binding upon the municipality ; for the recital is itself a decision of the fact by the appointed tribunal.
Page 285 - ... provided, that this section shall not be construed to prevent a division and distribution of the capital stock of the company, which shall remain after the payment of all its debts, upon the dissolution of the corporation or the expiration of its charter.
Page 443 - the obligation to do justice rests upon all persons, natural and artificial, and if a county obtains the money or property of others without authority, the law, independent of any statute, will compel restitution or compensation.
Page 91 - Where a corporation is incompetent by its charter to take a title to real estate, a conveyance to it is not void, but only voidable, and the sovereign alone can object. It is valid until assailed in a direct proceeding instituted for that purpose.
Page 361 - Where it is a simple question of authority to contract, arising either on a question of regularity of organization or of power conferred by the charter, a party who has had the benefit of the agreement cannot be permitted in an action founded upon it to question its validity. It would be in the highest degree inequitable and unjust to permit a defendant to repudiate a contract, the benefit of which he retains.
Page 207 - The charter of every corporation that shall hereafter be granted by the Legislature, shall be subject to alteration, suspension, and repeal, in the discretion of the Legislature.
Page 52 - We take the general doctrine to be in this country, though there may be exceptional cases and some authorities to the contrary, that the powers of corporations organized under legislative statutes are such and such only as those statutes confer. Conceding the rule applicable to all statutes, that what is fairly implied is as much granted as what is expressed, it remains that the charter of a corporation is the measure of its powers, and that the enumeration of these powers implies the exclusion of...
Page 96 - Loans (Sec. 5200). —The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.