Shawhan v. Zinn
Court of Appeals of Kentucky
Case 63 — EQUITY APPEAL- FROM KENTON CIRCUIT COURT. 1. The railroad company had no power to make the compromise or dismiss the suit. A corporation possesses only those powers which its charter expressly confers or are incident to its existence.
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Case 63 — EQUITY APPEAL- FROM KENTON CIRCUIT COURT. 1. The railroad company had no power to make the compromise or dismiss the suit. A corporation possesses only those powers which its charter expressly confers or are incident to its existence. (Dartmouth College v. Woodward, 4 Wheat., 518; Beach v. Fulton Bank, 3 Wend., 583; Green’s Brice’s Ultra Yires, p. 29 and note.) 2. Railroad corporations organized separately cannot merge and consolidate their interests without legislative authority. (Clearwater v. Meredith, 1 Wall., 25; Kean v. Johnson, 1 Stock., 401; Black v. Del. & Rar. Canal Co., 9…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion of the court.
An action was pending in the Kenton chancery court between the Covington and Lexington Railroad Company ■as plaintiffs and Bowler’s heirs and others, defendants, involving the right of Bowler’s heirs to hold the road as purchasers ■at a decretal sale, subjecting the road to the payment of a ■large sum of money secured by mortgage, and sold at the instance of the mortgagees under a petition in equity filed in the Fayette circuit court. The right of the parties was finally determined on an appeal to this court, in an opinion holding that the…
2Cited by7 opinions
- Moore v. Silver Valley Mining Co.Supreme Court of North Carolina · 1889
- Taylor, County Jailer v. ToddCourt of Appeals of Kentucky (pre-1976) · 1931
- Botts v. Simpsonville & Buck Creek Turnpike Road Co.Court of Appeals of Kentucky · 1888
- Burley Tobacco Co. v. VestCourt of Appeals of Kentucky · 1915
- D. C. Heath & Co. v. CommonwealthCourt of Appeals of Kentucky · 1908
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