Legal Opinion
Lawson v. Household Finance Corporation
Supreme Court of Delaware
Decided February 27, 1930PublishedCited by 5 opinions
1Opinion of the Court
No power or authority can be conferred on corporation by its charter which is not provided for by statute under which corporation is created.
Same rules governing construction of statutes and contracts are used in construing charters of corporate powers and privileges.
Independent of valid charter or statutory provisions, corporate by-law which unreasonably restrains power of stockholder to transfer stock is invalid as against public policy.
Reasonable restrictions on transfer of corporate stock as are necessary and convenient to attainment of objects for which company was incorporated are valid…
2Cases cited25 opinions
- Dr. Miles Medical Co. v. John D. Park & Sons Co.Supreme Court of the United States · 1911
- Wynehamer v. . the PeopleNew York Court of Appeals · 1856
- New England Trust Co. v. AbbottMassachusetts Supreme Judicial Court · 1894
- Straus v. Victor Talking MacHine Co.Supreme Court of the United States · 1917
- Morris v. American Public Utilities CompanyCourt of Chancery of Delaware · 1923
20 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- McDonald v. Farley & Loetscher Manufacturing Co.Supreme Court of Iowa · 1939
- B & H Warehouse, Inc. v. Atlas Van Lines, Inc.Court of Appeals for the Fifth Circuit · 1974
- Sundlun v. Executive Jet Aviation, Inc.Court of Chancery of Delaware · 1970
- Commissioner of Int. Rev. v. Southern Bell Tel. & Tel. Co.Court of Appeals for the Sixth Circuit · 1939
- Tracey v. FranklinSupreme Court of Delaware · 1949