Morton v. Hamilton College
Court of Appeals of Kentucky
Case 41 — PETITION ORDINARY APPSAI. PROM PAYETTE CIRCUIT COURT. 1. Where a corporation adopts a contract, entered into by the promoters before it is in esse, which is intended to inure to ■ th& ■benefit of the corporation and does inure to its benefit, it takes, ■the burden with the benefit, and the contract is enforceable ■against it. (Beach on Private Corporations, vol. 1, section 198; Little. Rock & Fort Smith R. Co. v. Perry, 37 Ark., 1G4; Paxton Cattle Co. v. First Nat.
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Case 41 — PETITION ORDINARY APPSAI. PROM PAYETTE CIRCUIT COURT. 1. Where a corporation adopts a contract, entered into by the promoters before it is in esse, which is intended to inure to ■ th& ■benefit of the corporation and does inure to its benefit, it takes, ■the burden with the benefit, and the contract is enforceable ■against it. (Beach on Private Corporations, vol. 1, section 198; Little. Rock & Fort Smith R. Co. v. Perry, 37 Ark., 1G4; Paxton Cattle Co. v. First Nat. Bank of Arapahoe, 21 Neb., 621; Bell’s Gap R. Co. v. Christy, 79 Penn. St., 54; Low v. R. Co., 45 NH., 370; Frankfort &…
1Opinion of the CourtChief Justice Pryor
delivered tide opinion of the court.
This action was instituted by J. B. Morton and other» against a corporation known and called Hamilton College. It is on an implied assumpsit on the part of the college to pay to the plaintiffs certain sums of money advanced by them as the promoters of what was then *283called Hocker College, with the name of the corporation changed to that of Hamilton College by a charter subsequently obtained.
The money, it is alleged, was advanced by the plaintiffs for the college, with the agreement and understanding that it was to be repaid to the plaintiffs when the…
2Cited by7 opinions
- Gatliff Coal Co. v. CoxCourt of Appeals for the Sixth Circuit · 1944
- Taussig v. St. Louis & Kirkwood RailroadSupreme Court of Missouri · 1901
- Longo v. ReillyNew Jersey Superior Court Appellate Division · 1955
- Farmers Bank v. SmithCourt of Appeals of Kentucky · 1899
- Moriarty v. Metropolitan Life InsuranceCourt of Appeals of Kentucky · 1918
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