Alabama Gold Life Insurance v. Central Agricultural & Mechanical Ass'n
Supreme Court of Alabama
Appeal from Chancery Court of Dallas. Heard before Hon. Charles Turner. This was a general creditor’s bill, filed by appellant, in behalf of itself and all other creditors of the defendant corporation, against “ The Central Agricultural and Mechanical Association,” and certain of its stockholders.
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Appeal from Chancery Court of Dallas. Heard before Hon. Charles Turner. This was a general creditor’s bill, filed by appellant, in behalf of itself and all other creditors of the defendant corporation, against “ The Central Agricultural and Mechanical Association,” and certain of its stockholders. The bill alleged that the “ defendant was a joint-stock company, and a body corporate created under the general law of the State of Alabama, passed for the purpose of authorizing the creation of corporations, without special acts of the legislature therefor.” The bill showed that the appellant had…
1Opinion of the CourtBrickell, C. J.
Corporations, public or private, in this country, are of legislative creation, deriving existence and capacity either from a special act of incorporation, or a general statute authorizing their organization, prescribing their powers, duties and liabilities. The bill does not show when the corporation making the contract was incorporated, nor the purposes of its incorporation, nor the powers conferred on it. It does not of consequence disclose affirmatively that the contract sought to be enforced is not ultra vires and a nudum pachm. Capacity to contract, however, is an incidental corporate…
2Cases cited3 opinions
- City Council of Montgomery v. Montgomery & Wetumpka Plank-Road Co.Supreme Court of Alabama · 1857
- Smith v. Alabama Life Insurance & Trust Co.Supreme Court of Alabama · 1843
- Grand Lodge v. WaddillSupreme Court of Alabama · 1860
3Cited by11 opinions
- Taylor v. Agricultural & Mechanical Ass'nSupreme Court of Alabama · 1880
- Boulware v. DavisSupreme Court of Alabama · 1890
- Bluthenthal v. Town of HeadlandSupreme Court of Alabama · 1901
- Talladega Insurance v. PeacockSupreme Court of Alabama · 1880
- Steiner & Lobman v. Steiner Land & Lumber Co.Supreme Court of Alabama · 1897
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