People ex rel. Platt v. President of the Oakland County Bank
Michigan Supreme Court
This was an information in the nature of a quo warranto, requiring the defendants to show by what right they exercised certain corporate privileges and franchises. No formal issues were joined, but the case was heard upon stipulation between the parties.
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This was an information in the nature of a quo warranto, requiring the defendants to show by what right they exercised certain corporate privileges and franchises. No formal issues were joined, but the case was heard upon stipulation between the parties. The following were the grounds relied upon by the Attorney General, and those facts admitted by the stipulation, out of which the legal principles decided by the court arose. 1. That the act under which the defendants claimed to be incorporated, became void, by the failure of the defendants to comply with the terms of the last section…
1Opinion of the CourtWhipple, J.
1. With respect to the first point, it was contended by the Attorney General that the books of the corporation, (the only testimony produced on either side upon the question,) furnished conclusive evidence that $15,000 in specie was not paid into the bank within two years after the passage of the act of incorporation ; or, at least, that the Court would be warranted in inferring that, although the $15,000 was paid in, yet it was immediately withdrawn, in fraud of the act creating the corporation. We have examined the extracts from the books furnished us by the Attorney General, and are free…
2Cited by8 opinions
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- Adams v. FoxNew York Supreme Court · 1863
- Chapman v. Colby Bros.Michigan Supreme Court · 1881
- Jacob v. Gratiot Central Market Co.Michigan Supreme Court · 1934
- Natchez Insurance v. StantonMississippi Supreme Court · 1844
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