United Oil Co. v. Eager Transportation Co.

G. L. c. 156, § 47, requires a domestic business corporation to submit each year to the commissioner of corporations (for filing in the office of the State Secretary under § 48) a “report of condition,” “signed and sworn to by its president, treasurer and a majority of its directors,” including among other things a “statement of the assets and liabilities of the corporation as of the date of the end of its last fiscal year,” substantially in the form therein set forth. This form is a balance sheet showing, on one side, “Assets,” subdivided according to their nature, and, on the other,…