Sullivan County Club v. Butler

The plaintiff was organized under the Business Corporation Act (Laws 1890, chap. 567). The objects and nature of the business for which it was formed, according to the certificate of incorporation, were “ to purchase, acquire, develop, improve and sell real estate in Sullivan county, and to build, maintain and sell buildings or real estate in said county; ” and the business was to be carried on in the city of New York and the towns of Thompson and Mamakating, in Sullivan county, N. Y. The stock of the corporation consisted of $100,000, divided into 1,000 shares of $100 each, and the directors…