President v. Thorp
New York Supreme Court
THE plaintiffs were incorporated by an act of the Iegislature of New-Jersey, reserving the right to repeal or modify the act at any time. The plaintiffs sued in this court for a debt due to them. Afterwards the legislature of New-Jersey repealed their charter, and passed a law vesting all the property of the corporation in three trustees.
Read the full summary
THE plaintiffs were incorporated by an act of the Iegislature of New-Jersey, reserving the right to repeal or modify the act at any time. The plaintiffs sued in this court for a debt due to them. Afterwards the legislature of New-Jersey repealed their charter, and passed a law vesting all the property of the corporation in three trustees. This last act was passed November 23d, 1825; and afterwards, in December of the same year, the legislature passed a supplemental act, authorizing the trustees to maintain suits in their own names as trustees; and providing that they should be substituted for…
1Opinion of the Court
Curia.
It was very properly conceded on the argument, by the counsel for the defendant, that foreign corporations may sue here. Nothing is better settled. (4 Cow-en, 529, note, and cases there cited.) Is this case, then, distinguishable in principle ? We think not. The act does not interfere with an existing remedy of our own. It was likened to the case of the assignees of foreign bankrupts, who, as it is held by some cases, cannot sue here. ( Vid. 4 Cowen, 530, note, and cases there cited.) But the cases are not similar. Though bankrupt assignments are sanctioned by statute, they have been…
2Cited by7 opinions
- President & Directors of the Bank of Commerce v. Rutland & Washington RailroadNew York Supreme Court · 1854
- Insurance Co. v. The C. D., Jr.U.S. Circuit Court for the District of Eastern Louisiana · 1870
- Thornburgh v. Savage Min. Co.U.S. Circuit Court for the District of Nevada · 1867
- Persse & Brooks Paper Works v. WilletThe Superior Court of New York City · 1862
- Berlin Realty Corp. v. GormanAppellate Terms of the Supreme Court of New York · 1934
2 more not listed; retrieve them via the Exa API.