 | Law - 1881 - 572 pages
...were concerned, from the assets of the corporation. In that case the court declared the doctrine to be well established that the capital stock of a corporation, especially its unpaid subscriptions, constituted a trust fund, for the benefit of the general creditors of tho corporation, and that the... | |
 | Law - 1874 - 752 pages
...stock or shares of a corporation, especially the unpaid subscription to such gtock or share, constitute a trust fund for the benefit of the general creditors of the corporation, and this trust can not be defeated by a simulated payment of the stock subecription, nor by any device... | |
 | United States. Supreme Court - Law reports, digests, etc - 1874 - 738 pages
...shares of a corporation— especially the unpaid subscriptions to such stock or shares — constitute a trust fund for the benefit of the general creditors of the corporation. 2. This trusi, cannot be defeated by a simulated payment of the stock subscription, nor by any device... | |
 | William A. Shinn - Bankruptcy - 1875 - 624 pages
...transaction by which defendant claims to have paid it, says : " Though it be a doctrine of modern date, we think it now well established that the capital stock...instrumentalities of the commercial and business world in the last four years, with the corresponding necessity of adapting legal principles to the new and varying exigencies... | |
 | Law - 1875 - 722 pages
...transaction by which defendant claims to have paid it, says : " Though it be a doctrine of modern date, we think it now well established that the capital stock...instrumentalities of the commercial and business world in the last four years, with the corresponding necessity of adapting legal principles to the new and varying exigencies... | |
 | Orlando Bump - Bankruptcy - 1877 - 1050 pages
...which creditors could impeach. (Sawyer v. Hoag. 9 B. R. 145; sc 3 Biss. 293; в. c. 17 Wall. 610.) The capital stock of a corporation, especially its...benefit of the general creditors of the corporation. The assignee has a right to inquire into a conventional payment of his stock by one of the shareholders... | |
 | Jabez S. Holmes - Law reports, digests, etc - 1877 - 596 pages
...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 adds: "When we consider the rapid development of corporations... | |
 | Iowa. Supreme Court - Law reports, digests, etc - 1877 - 776 pages
...Ladd, for appellants. The capital stock of a corporation, and especially its unpaid subscriptions, are a trust fund for the benefit of the general creditors of the corporation. (Sawyer v. Hoag, 17 Wall., 610.) The governing offices of a corporation cannot, by agreement or other... | |
 | Isaac Grant Thompson - Law reports, digests, etc - 1878 - 860 pages
...other stockholder." The subscribed capital stock of a corporation, as also all its other property, is a trust fund for the benefit of the general creditors of the corporation, and its governing officers cannot, by agreement with a stockholder, release him from his obligation to... | |
 | American Bar Association - Bar associations - 1884 - 346 pages
...and restricted to certain prescribed modes. The capital stock or shares of the corporation constitute a trust fund for the benefit of the general creditors of the corporation, and the subscriptions to this can only be fulfilled by a bond fide payment, in conformity with the contract.*... | |
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Though it be a doctrine of modern date, we think it now well established that the capital stock of a corporation, especially its unpaid subscriptions, is a trust fund for the benefit of the general creditors of the corporation. 
