Powell Bros. v. McMullan Lumber Co.
Supreme Court of North Carolina
Appeal by plaintiffs from Ferguson, J., at Spring Term, 1910, of Chowan. The plaintiffs, as partners, sued the McMullan Lumber Company, a corporation, M. H. White, E. V. Perry and White & White ’Company, corporation.
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Appeal by plaintiffs from Ferguson, J., at Spring Term, 1910, of Chowan. The plaintiffs, as partners, sued the McMullan Lumber Company, a corporation, M. H. White, E. V. Perry and White & White ’Company, corporation. The facts alleged are substantially as follows: In August, 1905, the McMullan Lumber Company was chartered under the general corporation law of the State, with three stockholders, S. W. McMullan, subscriber for 97 shares of the capital stock, E. Y. Perry for two shares and M. H. White for one share. There were no other stockholders. On 16 September, 1905, the stockholders met and…
1Opinion of the Court
Manning, J.,
after stating the ease. Tbe contention that the McMullan Lumber Company was not a corporation is settled by the decision of tbis Court in Benbow v. Cook, 115 N. C., 324, where it is said: “Having complied witb the requirements as to the form of the articles of agreement and caused the proper record to be made, the three persons named as sole corporators become a body politic for the purposes set forth in the agreement. Code, secs. 678, 679. When corporate powers are granted by a special, instead of a general act of the Legislature, there must be evidence of acceptance by the…
2Cases cited15 opinions
- Lowry Banking Co. v. Empire Lumber Co.Supreme Court of Georgia · 1893
- Odom v. . ClarkSupreme Court of North Carolina · 1908
- National Bank of Greensboro v. GilmerSupreme Court of North Carolina · 1895
- Merchants National Bank of Richmond v. Newton Cotton MillsSupreme Court of North Carolina · 1894
- Hill v. Pioneer Lumber Co.Supreme Court of North Carolina · 1893
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- Caldwell v. . RobinsonSupreme Court of North Carolina · 1920
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