Reports of Cases Determined by the Supreme Court of the State of Missouri Volume 233

Reports of Cases Determined by the Supreme Court of the State of Missouri Volume 233

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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. 1911 edition. Excerpt: ...in some proceeding instituted in its behalf. Here there is no allegation in the complaint that this corporation had forfeited its charter, or that it had in any way become dissolved; but a. portion of the relief prayed is that it be dissolved. All the stockholders uniting might undoubtedly surrender the franchise of a corporation and work its dissolution. But can a portion of them do this, in the absence of statutory authority? There is no statute in this State which an thorizes a portion of the stockholders to maintain an action to dissolve a manufacturing corporation, and I know of no decision holding that they can. The statutes (2 R. S. 467) provide for the voluntary dissolution of corporations, but that must be upon application to a proper court "of the directors, trustees or other oflicers having the management of the concerns" of the corporation, but not upon the application of a portion of the stockholders.' In further discussing the question in that case, the learned judge remarked: 'There is abundance of authority for holding that there is no general power in a court of equity for sustaining such an action as this prosecuted by a portion of the stockholders, ' citing Verplanck v. Mercantile Ins. Co., 1 Edw. Ch. 84; Galwey v. Sugar Refining Co., 13 Abb. Pr. 211, s. c., 36 Barb. 256; Ramsey v. Erie Railway Co., 7 Abb. Pr. (N. S.) 156, 181; Howe v. Deuel, 43 Barb. 505; Latimer v. Eddy, 46 Id. 61; Belmont v. Erie Railway Co., 52 Id. 637, 665; Gilman v. Green Point Sugar Co., 4 Lans. 483; Wilmersdoerffer v. Lake Mahopac Imp. Co., 18 Hun. 387. "In Thompson v. Greeley, 107 M0. 577, while the proposition of the power of a court of equity to dissolve a corporation was not in judgment before the court, ...show more

Product details

  • Paperback | 282 pages
  • 189 x 246 x 15mm | 508g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236776348
  • 9781236776341