Botts v. Simpsonville & Buck Creek Turnpike Road Co.
Court of Appeals of Kentucky
Case 8 — PETITION EQUITY — APPEAL FROM SHELBY CIRCUIT COURT. When the power is not conferred by the charters of corporations there can be no consolidation of the corporations without the consent of all the stockholders in both companies, notwithstanding an act of the Legislature authorizing the consolidation by the consent of a majority of the stockholders in each.
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Case 8 — PETITION EQUITY — APPEAL FROM SHELBY CIRCUIT COURT. When the power is not conferred by the charters of corporations there can be no consolidation of the corporations without the consent of all the stockholders in both companies, notwithstanding an act of the Legislature authorizing the consolidation by the consent of a majority of the stockholders in each. (Morawetz on Private Gorporations, sections 54, 545, 197; Clearwater v. Meridith, 1 Wall., 25; New Orleans R. R. Go. v. Hains, 27 Miss., 540; Stephens v. Rutland and R. R. Co., 27 Vt., 565; Pearce v. Madison R. R. Co., 21 Howard,…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion op the court.
The appellants are members as stockholders of the Simpsonville and Buck Creek Turnpike Company. On the twentieth of February, 1884, the Legislature of the State passed an] act authorizing the consolidation of the corporation of which they are members, with another company, styled the Simpsonville and Fisherville Turnpike Company. The appellants, in order to prevent a consolidation of the two companies, filed their petition in equity against the <■ directors of both corporations, and against each corporation, asking for an injunction preventing the…
2Cases cited2 opinions
- Hawes v. OaklandSupreme Court of the United States · 1882
- Shawhan v. ZinnCourt of Appeals of Kentucky · 1881
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- Lyle Stoneman v. United Nebraska BankNebraska Supreme Court · 1998
- Taylor, County Jailer v. ToddCourt of Appeals of Kentucky (pre-1976) · 1931
- Barnett v. D. O. Martin Co.Supreme Court of Georgia · 1940
- Spencer v. RailroadSupreme Court of North Carolina · 1904
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