The Encyclopedic Digest of North Carolina Reports; Being a Complete Encyclopedia and Digest of All the North Carolina Case Law Up to and Including Volume 167, North Carolina Reports, and Volumes 1 to 83, Southeastern Reporter Volume 3

The Encyclopedic Digest of North Carolina Reports; Being a Complete Encyclopedia and Digest of All the North Carolina Case Law Up to and Including Volume 167, North Carolina Reports, and Volumes 1 to 83, Southeastern Reporter Volume 3

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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. 1916 edition. Excerpt: ...Regulation," 162. Created by Contract.-Corporations are either such as are independent of all contract as a county, or such as are the direct result of contract as a railroad company..'lills 2'. Williams, 33 N. C. The purpose of making all corporations is the public good. The substantial difierence between corporations is that, in some cases. they are erected by the mere will of the legislature, there being no other party interested or concerned, and these are subject at all times to be modified. changed or annulled. Other corporations are the result of contract; the legislature, for the purpose of accomplishing a public good, chooses to do it by the instrumentality of a second party. These two parties make a contract, the legislature, in consideration of certain labor and outlay of money, conferring upon the party of the second part the privilege of being a corporation, with certain powers and capacities; and being a contract it can not be changed both parties. Counties, etc., belong to the first class; railroad and turnpike companies are instances of the second class. Mills v. /Villiams, 33 N. C. 55$. See the title COUNTIES.. . Kinds and Classes of Corpora tions. See the title EMINENT DOMAIN. There are two kinds of corporations recognized by our law: 1. Such as are created solely for the benefit of the public and in which the citizen has no private individual interest. 2. Corporations which are based upon contracts which individual rights and interests are guaranteed. Over the first class the legislature has entire control and may modify, change and destroy them at pleasure. Mills v.-'Villiams, 33 N. C. 558. Over the second class the legislature has power only so far as provided for in the charter of the...show more

Product details

  • Paperback | 482 pages
  • 189 x 246 x 25mm | 853g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236828275
  • 9781236828279