Trust Estates as Business CompaniesVernon law book Company, 1921 - 782 pages |
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Common terms and phrases
agents appears apply appointment assets authority Bank beneficiaries benefit Bubble Act business trust capital carrying certificate holders cestuis que trust chapter cited common law corporation court of equity creating a trust creditors debts decision declaration of trust deed of trust deemed directors duties embarked in trade equitable interest erty executor held hold income indemnity individual insolvent instrument creating investment joint-stock association joint-stock company Justice Woods legal title lien limited Mass Massachusetts ment merely N. Y. Supp ness owners parties partners partnership payment personal liability personal property plaintiff poration power of alienation principle purchase purpose question real estate reason referred rule rule against perpetuities SEARS TRUST settlor shareholders statute stipulate stockholders supra Supreme Court suspension tees thereof tion transferable shares trus trust agreement trust estate trust fund trust instrument trust property trustee's unincorporated vested York
Popular passages
Page 273 - It is very true that a corporation can have no legal existence out of the boundaries of the sovereignty by which it is created. It exists only in contemplation of law, and by force of the law ; and where that law ceases to operate, and is no longer obligatory, the corporation can have no existence. It must dwell in the place of its creation, and cannot migrate to another sovereignty.
Page 557 - State of , do hereby certify that [1st party named], personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he signed, sealed, and delivered the said instrument as his free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead.
Page 662 - THE STATE OF TEXAS, County of BEFORE ME, the undersigned, a Notary Public, , in and for said County, Texas, on this day personally appeared and - his wife, both known to me to be the persons whose names are subscribed to the...
Page 44 - A trustee may be defined generally as a person in whom some estate, interest, or power in or affecting property is vested for the benefit of another. When an agent contracts in the name of his principal, the principal contracts and is bound, but the agent is not. When a trustee contracts as such, unless he is bound no one is bound, for he has no principal. The trust estate cannot promise; the contract is therefore the personal undertaking of the trustee.
Page 200 - Upon the authority of these cases, and of others which are to be found in the books, as well as upon general principles, this court is of opinion that, in a case of fraud, of trust, or of contract, the jurisdiction of a court of chancery is sustainable wherever the person be found, although lands not within the jurisdiction of that court may be affected by the decree.
Page 622 - ... shall be entitled to receive, and the corporation shall be bound to pay thereon, a fixed yearly dividend, to be expressed in the certificate, not exceeding eight per centum, payable quarterly, half yearly or yearly, before any dividend shall be set apart or paid on the common stock...
Page 472 - Not less than seven directors shall constitute a board for the transaction of business, of whom the president shall always be one, except in case of sickness or necessary absence ; in which case his place may be supplied by any other director whom he, by writing, under his hand, shall depute for that purpose. And the director so deputed may do and transact all the necessary business, belonging to the office of the president of the said corporation, during the continuance of the sickness or necessary...
Page 274 - ... there, arises where the corporation is in the employ of the Federal Government, or where its business is strictly commerce, interstate or foreign. The control of such commerce, being in the Federal Government, is not to be restricted by State authority.
Page 311 - The rule of equity is, in every code of jurisprudence with which we are acquainted, that a purchase by a trustee or agent of the particular property of which he has the sale, or in which he represents another, whether he has an interest in it or not, per interposition personan carries fraud on the face of it.
Page 667 - Company has caused these Presents to be signed in its name and behalf by William H.