 ... one contracting with a corporation, to take notice of the legal limits of its powers; the interest of the stockholders, not to be subjected to risks which they have never undertaken ; and, above all, the interest of the public, that the corporation...  Lawyers' Reports Annotated - Page 4021904Full view - About this book
 | Illinois. Supreme Court - 1915 - 734 pages
...and contracts as are ultra vires.' In Central Transportation Co. v. Pullman Palace Car Co. 139 US 24, the result of the decisions as to the exercise of...not transcend the powers conferred upon it by law.' " To the same effect is United States Brewing Co. v. Dolese & Shepard Co. 259 1ll. 274, and cases cited.... | |
 | Ohio. Supreme Court - 1918 - 760 pages
...principle that corporations are not permitted to contract beyond the legal limits of their powers — the interest of the public that the corporation shall not transcend the authority conferred on it by law, and the interest of the stockholders that the company and its property... | |
 | 1894 - 2096 pages
...maintained upon them in the courts, and this upon three distinct grounds: The obligation of every on- M ]N H b h7eg YPz ` {Y QV : ,0 " b OI L"} t C8^ 8 ? [ I]fI z ` The power to execute accommodation paper, or to guaranty for accommodation the obligations of another... | |
 | 1899 - 2058 pages
...interests of the stockholders not to be subjected to risks which they have never undertaken ; and (Z} the interest of the public that the corporation shall not transcend the powere conferred upon it by law. The authorities bearing upon these general principles are well settled,... | |
 | 1897 - 1036 pages
...take notice of the legal limits of Its powers; the Interest of the stockholders, not to be subject to risks which they have never undertaken; and, above...not transcend the powers conferred upon It by law. Pearce v. Railroad Co., 21 How. 441; Pittsburgh, C. & St L. Ry. Co. т. Кеоkuk & Hamilton Bridge... | |
 | 1901 - 1166 pages
...ratione legis, cessât ipsa lex." These reasons must be, as in any ultra vires act by a corporation: "(1) The Interest of the public, that the corporation shall not transcend the powers granted. (2) The interest of the stockholders, that the capital shall not be subjected to the risk... | |
 | 1916 - 1352 pages
...by their agents. The reasons for granting this relief are thus stated by a high authority: "(1) Tlio interest of the public, that the corporation shall not transcend the powers granted. "(2) The interest of the stockholders, that the capital shall not be subjected to the risk... | |
 | Arkansas. Supreme Court - 1911 - 686 pages
...corporation to take notice of the legal limits of its powers; the interest of the stockholders not to.be subjected to risks which they have never undertaken...not transcend the powers conferred upon it by law. * * * These principles apply equally to companies incorporated by special charter from the Legislature... | |
 | United States. Supreme Court - 1889 - 786 pages
...and varying from the objects of its creation as declared in the law of its organization, are: 1st. The interest of the public, that the corporation shall not transcend the powers granted. 2d. The interest of the stockholders, that the capital shall not be subjected to the risk... | |
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