Johnson v. Bush
New York Court of Chancery
This case came before the chancellor upon an appeal, by the complainants, from a decree of the vice chancellor of the eighth circuit, dismissing the bill of the appellants, with costs.
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This case came before the chancellor upon an appeal, by the complainants, from a decree of the vice chancellor of the eighth circuit, dismissing the bill of the appellants, with costs. The bill Avas filed to foreclose a mortgage given by Bush and wife to the Globe Fire Insurance Company, in 1839, to secure the payment of $7000, being the amount of the purchase of seventy shares of the capital stock of the company, and for which scrip Avas issued to Bush and to others at his request, or by his direction. The act for the incorporation of the Globe Insurance Company Avas passed on the 2d of May,…
1Opinion of the Court
The Chancellor.
The first objection made by the defendants to the complainants’ right to a decree of "foreclosure, in this case, is that the bond and mortgage are void, because the Globe Fire Insurance Company, to whom they were given, was not a legally constituted corporation; inasmuch as it did not organize and commence its business within one year from "the date of its incorporation. The seventh section of the title of the revised statutes relative to the general powers, privileges and liabilities of corporations, (1. R. /S'. 600,) declares that if any corporation created by the legislature…
2Cited by6 opinions
- Pittsburg Carbon Co. v. McMillinNew York Court of Appeals · 1890
- Hunter v. Hudson River Iron & Machine Co.New York Supreme Court · 1855
- Pace v. Pace Bros. Co.Utah Supreme Court · 1936
- Kellogg v. . AdamsNew York Court of Appeals · 1868
- People v. StilwellAppellate Division of the Supreme Court of the State of New York · 1913
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