Cases on Restraint of Trade, Vol. 4: In Part a Selection From Cases on Private Corporations (Classic Reprint)

Name: Cases on Restraint of Trade, Vol. 4: In Part a Selection From Cases on Private Corporations (Classic Reprint)
Brand: Forgotten Books
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By Jeremiah Smith

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Excerpt from Cases on Restraint of Trade<br/><br/>There is one obvious and important distinction between such a soci ety as this charter creates and that of a partnership. An act of the corporation, done either by direct vote Or by agents authorized for the purpose, is the manifestation Of the collected will Of the society. N 0 member of the corporation, as such, can bind the society. In a part nership each member binds the society as a principal. If then this corporation may enter into partnership with an individual, there would be two principals, the person and the natural person, each hav ing, within the scope of the society's business, full authority to manage its concerns, including even the disposition of its property. The second section of c. 38 of the Rev. Sts. Provides that the busi ness of every such manufacturing corporation shall be managed and conducted by the president and directors thereof, and such other Of? cers, agents, and factors as the company shall think proper to author ize for that purpose. It is plain that the provisions of this section cannot be carried into effect where a partnership exists. The partner may manage and conduct the business of the corporation, and bind it by his acts. In so doing he does not act as an officer or agent of the corporation by authority received from it, but as a principal in a soci ety in which all are equals, and each capable Of binding the society by the act of its individual will.

Product details

Binding:: Paperback
Number of Pages:: 162
Release Date:: 2016-12-12
Publication Date:: 2016-12-12
Publisher:: Forgotten Books
Languages:: Published: English, Original: English
ISBN10:: 1334610053
ISBN13:: 9781334610059
Weight:: 227 g

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