ACT Concerning Corporations, Revision of 1896, in the State of New Jersey; With the Supplements Passed in the Years 1897 to 1908 Inclusive, and Other General Acts Relating to Corporations, Together with Abstracts of the Decisions of the

ACT Concerning Corporations, Revision of 1896, in the State of New Jersey; With the Supplements Passed in the Years 1897 to 1908 Inclusive, and Other General Acts Relating to Corporations, Together with Abstracts of the Decisions of the

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...Apprentices who have allowed their wages to accumulate are in no better position than other workmen. Mingin v. Alva Glass Co., 10 Dick. 463. This provision is in derogation of the right of creditors to be paid equally,"and must not be extended by construction. A contractor cannot have the benefit of it. The preference is a personal one, adhering to the person who does the work. Lehigh Coal & Nav. Co. v. C. R. R. Co. of N. J., 2 Stew. Eq. 252. And it will not be extended so as to impair existing for the amount of wages due to them respectively for all labor, work and services done, performed or rendered within two months next preceding the date when proceedings in insolvency shall be actually instituted and begun against such insolvent corporation. liens. Coe v. N. J. Midland R. Co., 4 Id. 105. A drayman in the regular employment of the company, and whose services are of a kind necessary to the continuance of the business, is preferred. Watson v. Watson Mfg. Co., 3 Id. 588. The lien comes into existence as of the date which the court adjudges to be the time when the insolvency occurred which gives it jurisdiction. The laborers have a lien upon the assets. The acceptance of a promissory note without security does not operate as a waiver of the lien; nor does the proving of the claim for a sum in excess of the amount really due work a forfeiture of the right of lien. D., L. & W. R. R. Co. v. Oxford Iron Co., 6 Id. 192; 11 Id. 151, 340. Where A. entered into agreement with a corporation to serve it for a term of years at a fixed salary, and before the term expired the corporation became insolvent and a receiver was appointed, A. is entitled to damages for breach of contract, but his claim for the amount of such damages is not preferred. Spader v....show more

Product details

  • Paperback | 78 pages
  • 189 x 246 x 4mm | 154g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236679369
  • 9781236679369