Doernbecher v. Columbia City Lumber Co.
Oregon Supreme Court
Defendants appeal. A private corporation has the right and power at common law to make a general assignment for the benefit of its creditors, and this power may be exercised unless there is a statutory provision preventing it. (Burrill on Assignments, § 64; De Ruyter v. St. Peter's Church, 3 N. T. 238; Reichwald v. Commercial Hotel Co. 106 Ill. 439; Tripp v. Northwestern Nat.
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Defendants appeal. A private corporation has the right and power at common law to make a general assignment for the benefit of its creditors, and this power may be exercised unless there is a statutory provision preventing it. (Burrill on Assignments, § 64; De Ruyter v. St. Peter's Church, 3 N. T. 238; Reichwald v. Commercial Hotel Co. 106 Ill. 439; Tripp v. Northwestern Nat. Bank, 41 Minn. 400; Wilkinson v. Bnuerle, 41 N. J. Eq. 635; Angelí & Ames on Oorp. 10th Ed. § 191.) There is no doubt but what a general assignment of a corporation can be made by its officers under a resolution of the…
1Opinion of the CourtBeaN, J.
This is a suit by a judgment creditor of the insolvent defendant corporation, to enforce the individual liability of defendants Dunbar, Wallace and Plimpton, stockholders, for their stock subscribed and unpaid. It is sufficient to say that the complaint is in the usual form, and the answer avers a general assignment by the corporation, prior to the commencement of this suit, of all its *576property for the benefit of creditors, and the sole right of the assignee to collect all moneys due for stock subscribed and unpaid. The validity of this assignment is the only question necessary to consider in…
2Cases cited11 opinions
- Baldwin v. CanfieldSupreme Court of Minnesota · 1879
- Gordon v. PrestonSupreme Court of Pennsylvania · 1833
- People Ex Rel. Loew v. BatchelorNew York Court of Appeals · 1860
- Warner v. MowerSupreme Court of Vermont · 1839
- Doyle v. MiznerMichigan Supreme Court · 1879
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3Cited by9 opinions
- Ex parte SteeleDistrict Court, N.D. Alabama · 1908
- Hill v. Rich Hill Coal Mining Co.Supreme Court of Missouri · 1893
- Calumet Paper Co. v. Haskell Show Printing Co.Supreme Court of Missouri · 1898
- Richman v. Bank of PerrisCalifornia Court of Appeal · 1929
- Singer v. Salt Lake Copper Mn'f'g Co.Utah Supreme Court · 1898
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