New Orleans & Gulf Railroad v. Frank
Supreme Court of Louisiana
APPEAL from the Twenty-fourth District Court, Parish of Plaque-mines. Livaudais, J. 1. Tli© existence of a corporation or its riglit to exercise corporate powers, can only bo questioned by the State in a direct action. Rev. Stats., sec. 2593; 5 Ann. 179; 18 Aim. 677 j 24 How. 278; Field on Corporations, sec. 493. 2. The general lawsW the State enter into and form a part of tho charter.
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APPEAL from the Twenty-fourth District Court, Parish of Plaque-mines. Livaudais, J. 1. Tli© existence of a corporation or its riglit to exercise corporate powers, can only bo questioned by the State in a direct action. Rev. Stats., sec. 2593; 5 Ann. 179; 18 Aim. 677 j 24 How. 278; Field on Corporations, sec. 493. 2. The general lawsW the State enter into and form a part of tho charter. Abbott’s Dig. of Corporations, vol. 1, p, 445, No. 6. 3. When no term for tho performance of an obligation is fixed it may be executed immediately. Rev. C. C.2050. 4. The jury of freeholders in expropriation…
1Opinion of the Court
The opinion of tho Court was delivered by
Todd, J.
Prom a judgment granting the right of way to the plaintiff company through defendant’s plantation, and awardiug $200 for the value of the same, the defendant has appealed.
There was an exception filed to the proceeding to the effect:
“That the charter of the company does not comply with the law, as it does dot set forth ‘tlio time when and the manner in which the stock shall bo paid for.’ ”
The charter is before us, and it does require that the stock shall be paid for in cash, and that no certificate of stock shall issue until this payment is made.
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