Download or read book A Treatise on the Law of Corporations Having a Capital Stock, Vol. 4 (Classic Reprint) written by William Wilson Cook and published by Forgotten Books. This book was released on 2018-04-28 with total page 1086 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from A Treatise on the Law of Corporations Having a Capital Stock, Vol. 4 Ala. 615 one street railway purchased all the stock of another street railway and paid the stock holders therefor by issuing the mort gage bonds of the latter street rail way company. The former then placed the stock under its own mortgage, and, this having been foreclosed, the purchaser attacked the validity of the first-mentioned mortgage. The court sustained the mortgage, however, on the ground that all the stock had voted therefor. Although a stock holder voted in favor of an ultra vires lease, yet, if the corporation has repudiated the lease, the es-top pel is destroyed and the stockhold er's suit may continue. Memphis, etc. R. R. O. Grayson, 88 Ala. 572 See also §730, supra. The Alabama statute authorizing leases of rail roads must be conformed to by a foreign corporation taking a lease of a domestic corporation. George Central R. R. Etc. Co., 101 Ala. 607 The state cannot oust a for eign railroad corporation from oper ating a railroad in the state on the ground that the railroad in the state had been leased to the foreign com pany without the consent of the stockholders, as required by statute, it appearing that such stockholders did not Object. Louisville N. R. R. V. State, 4-5 S. Rep. 296 (ala. AS to the power of a railroad corpo ration to mortgage its railroad, see §780, supra. As to the power of one company to buy the stock of another company, see §314, supra. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.