Fowle Memorial Hospital Co. v. Nicholson

The plaintiffs’ motion to cancel the alleged lease and to prevent exclusive control of the hospital by one of the defendants is based upon three propositions: (1) The making of the lease was ultra vires; (2) it was not authorized by a majority of the members of the company; (3) the defendant J. L. Nicholson was an officer of the com pany and by exercising a controlling influence over tbe other members acquired exclusive control of the hospital without substantial consideration.

1. The general rule is that a corporation possesses only such powers as are expressly conferred upon it or such as…