 | Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - Law reports, digests, etc - 1914 - 828 pages
...receiver does not depend upon any express statute granting it, but rests upon the general equitable doctrine that the capital of a corporation is a trust fund for the benefit of its creditors, and that those to whom it has been refunded will be held trustees for their... | |
 | Law - 1892 - 582 pages
...than a like disposal by an individual; that the same principles of law apply to each. That the phrase that " the capital of a corporation is a trust fund for the payment of its creditors" is misleading, if not inaccurate, is illustrated by the character of the actions that are... | |
 | Law - 1876 - 860 pages
...as Scammon v. Kimball, follow the principle of Sawyer v. Hoag, 17 Wall. 610, that the capital stock of a corporation is a trust fund for the payment of its debts to its creditors, which must in all cases be applied to that purpose pro rata. Others of the cases... | |
 | Austin Abbott - Civil procedure - 1878 - 592 pages
...certificate of the stock subjects the holder to the liabilities of a stockholder. The capital stock of a corporation is a trust fund for the payment of its debts, and the directors of the corporation, who are the trustees of the fund, will not be permitted to waste... | |
 | Law reports, digests, etc - 1904 - 1126 pages
...amount were void. In discussing this principle in his work on Corporations, Mr. Thompson says : "If the doctrine that the capital of a corporation Is a trust fund for the security of Its creditors Is any more than an empty and Idle collection of words, then the principle... | |
 | Law reports, digests, etc - 1881 - 1900 pages
...Russell, for complainant. CA Kent and F, A. Baker, for defendants. BROWN, DJ That the capital stock of a corporation is a trust fund for the payment of its debts, and that the law implies a promise by the subscribers of stock to pay its par value, which in this... | |
 | Law reports, digests, etc - 1881 - 628 pages
...without paying debts — Consequent liability of stockholders — How the liability is to be enforced. The capital of a corporation is a trust fund for the payment of creditors; stockholders who diminish that fund I>y distribmion among themselves, without first providing... | |
 | Nathan Howard (Jr.), Rowland M. Stover - Civil procedure - 1882 - 666 pages
...and see Wintringham agt. Wintringham, 20 <7oAw., 297). It is suggested, however, that the property of a corporation is a trust fund for the payment of its debts, and that whenever it has been wrongfully and fraudulently diverted, creditors may reach and have it... | |
 | Law - 1876 - 870 pages
...as Scammon v. Kimball, follow the principle of Sawyer v. Hoag, 17 Wall. 610, that the capital stock of a corporation is a trust fund for the payment of its debts to its creditors, which must in all cases be applied to that purpose pro rata. Others of the cases... | |
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the capital of a corporation is a trust fund for the payment of its creditors... 
