White v. Syracuse & Utica Railroad
New York Supreme Court
This was an appeal by the plaintiff from an order made at a special term, dissolving an injunction. The act creating the defendant a body corporate, was passed on the 11th of May, 1846. On the 12th of April, 1851, the legislature passed an act, entitled “ An act to authorize the railroad corporations of this state to subscribe to the capital stock of the Great Western Railroad, Canada West.”
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This was an appeal by the plaintiff from an order made at a special term, dissolving an injunction. The act creating the defendant a body corporate, was passed on the 11th of May, 1846. On the 12th of April, 1851, the legislature passed an act, entitled “ An act to authorize the railroad corporations of this state to subscribe to the capital stock of the Great Western Railroad, Canada West.” This act provides that any railroad corporation of this state may, with the consent of persons owning two-thirds of its stock, subscribe to the stock of the Canada road, not exceeding five per cent of the…
1Opinion of the Court
By the Court, Edwards, J.
The first ground taken by the plaintiff is that the act in question is in contravention of that provision of the constitution of the United States, which declares that no state shall pass a law impairing the obligation of contracts.
The charter of the defendant, in express terms, reserves the right to the legislature to alter, modify or repeal the act, and subjects the company to all the liabilities imposed by the revised statutes, amongst which is the provision that every charter of incorporation that shall thereafter be granted, shall be subject to alteration,…
2Cases cited1 opinion
- Middlesex Turnpike Corp. v. LockeMassachusetts Supreme Judicial Court · 1811
3Cited by17 opinions
- Matter of N.Y. Elevated R.R. Co.New York Court of Appeals · 1877
- In re the New York Elevated RailroadNew York Court of Appeals · 1877
- Town of Bennington v. ParkSupreme Court of Vermont · 1877
- Troy & Rutland Railroad v. KerrNew York Supreme Court · 1854
- Attorney General ex rel. Dusenbury v. LookerMichigan Supreme Court · 1897
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