City Insurance v. Commercial Bank

The point is made, that the attachment writ in this case was improvidently issued, and was properly quashed upon other grounds than those relating to the property itself. The reason assigned is, the defendant corporation was civilly dead before the attachment writ was instituted. The proposition asserted is no doubt true, where a corporation surrenders its charter, or where it ceases to exist by the efflux of time, or where its charter is declared forfeited by a judicial tribunal of competent jurisdiction, it can neither sue nor be sued, although the obligation of its contracts survive, and…