 | 1886 - 830 pages
...the difference. Upon a rehearing, it seems that this decision was reversed, chiefly on the "ground that the capital stock of a corporation is a trust fund for its creditors, which the corporation cannot diminish to their prejudice." But no such reason obtains... | |
 | Pennsylvania - 1886 - 248 pages
...obligation which is founded in no statute, but exists by force of the consideration that the capital-stock of a corporation is a trust fund for the payment of its debts, and upon the happening of the insolvency of the corporation and the exhaustion of its assets,... | |
 | 1887 - 956 pages
...statute of limitations." Whereupon plaintiff took this writ. Henninger & Dewalt, for plaintiff in error. The capital stock of a corporation is a trust fund for the benefit of creditors. Магмпдге Sav. Bank v. Bastion, 10 Wkly. Notes Gas. 71; Upton v. Tribilcock,... | |
 | 1908 - 1068 pages
...uniformly held not to be binding upon its creditors." And in the same case the court said: "The wholesome doctrine that the capital stock of a corporation is a trust fund for the payment of its debts, rests upon the idea that the creditors have a right to rely upon the fact that the subscribers... | |
 | 1917 - 1356 pages
...condition of the affairs of the bank cannot have the talismanic effect of vitalizing the note. The doctrine that the capital stock of a corporation is a trust fund for the payment of its debts — particularly so after its Insolvency — contributed, as an element, to the conclusion declared... | |
 | 1887 - 1098 pages
...is not a statutory obligation at all, but an obligation in equity arising out of the consideration that the capital stock of a corporation is a trust fund for the payment of its debts. Only so much of the unpaid capital as is necessary for the payment of the debts can be called... | |
 | 1915 - 1408 pages
...value of their stock. The court in Morrow v. I. & S. Co., supra, after announcing in strong terms the doctrine that the capital stock of a corporation is a trust fund for the benefit of creditors, said: "What we have said ns to the construction and legal effect of the subscription... | |
 | 1913 - 1336 pages
...stock, that means that such capital stock has been paid for in cash or its equivalent at its par value. The capital stock of a corporation Is a trust fund for the benefit of those who deal with it, and stockholders who purchase stock at less than par value perpetrate... | |
 | Missouri. Courts of Appeals - 1888 - 784 pages
...notes of the American Insurance Company formed part of its capital stock, nor can there be any question that the capital stock of a corporation is a trust fund for the payment of its creditors. This has been uniformly held. Bartlett v. Drew, 57 NY 587 ; Hastings v. Drew, 76 NY 9 ; Trust Company... | |
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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... 
