Corpus Juris; Being a Complete and Systematic Statement of the Whole Body of the Law as Embodied in and Developed by All Reported Decisions Volume 14

Corpus Juris; Being a Complete and Systematic Statement of the Whole Body of the Law as Embodied in and Developed by All Reported Decisions Volume 14

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ... defrauded subscriber, if he has not been guilty of lachcs, and in such case the fact that they will be incidentally affected cannot bar a rescission." Priority in rescinding ordinarily gives a subscriber s. right at law to priority in payment, which is not aifected by the subsequent appointment of a receiver in a suit by other rescinding subscribers." But it has been held that in an equitable suit to distribute the assets of a corporation, the organization of which has never been completed, among the subscribers to the corporate stock, all of whose subscriptions have been obtained' by fraud, subscribers who have paid part of their subscriptions in cash and have executed notes for the balance, and who have rescinded their contracts before the appointment of a receiver in a suit by the other subscribers for rescission, are entitled only to cancellation of their notes, and to receive such proportion of the cash fund as their cash payments' bear to the cash payments of the other subscribers. 874 b. What Constitutes I'raud--(l) In General. When it is sought to rescind a contract of subscription to or a purchase of stock on the ground of fraud," or to recover damages for the fraud," the courts, in determining what constitutes fraud, are governed by substantially the same rules as apply in the case of other contracts and of contracts between natural persons." There is fraud, 536. 21 SCt 873. 45 L. ed. 1213 Q51' pi-cssly refraining from deciding whether rescission can be had in equity under such circumstances); Scott v. Dewecse, isi U. s. 202. 11 sct 585, 45 L. ed. 322 aft sub mm Scott v. Latimer, 89 Fed. 843, 33 CCA 1. Southern Tobacco Co. VArmstrong, 11 Ga. A. 501, 75 SE 828. Joyce v...."show more

Product details

  • Paperback | 1046 pages
  • 189 x 246 x 52mm | 1,823g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236776844
  • 9781236776846