Marsters v. Umpqua Oil Co.
Oregon Supreme Court
From Douglas: James W. Hamilton, Judge. Statement by Mr. Chief Justice Bean. This is a suit by A. C. Marsters to foreclose two chattel mortgages alleged to have been executed by the Umpqua Valley Oil Co., which was organized as a corporation in 1901 in South Dakota, by filing articles of incorporation in the proper office, with a capital stock of $400,000, divided into 400,000 shares, of the par value of $1 each, for the purpose of owning and developing oil wells and coal…
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From Douglas: James W. Hamilton, Judge. Statement by Mr. Chief Justice Bean. This is a suit by A. C. Marsters to foreclose two chattel mortgages alleged to have been executed by the Umpqua Valley Oil Co., which was organized as a corporation in 1901 in South Dakota, by filing articles of incorporation in the proper office, with a capital stock of $400,000, divided into 400,000 shares, of the par value of $1 each, for the purpose of owning and developing oil wells and coal mines in the states of Oregon and California. The articles, as filed, state that the corporation is formed by M. McCoy, H.…
1Opinion of the CourtChief Justice Bean
1. The evidence shows, and it is undisputed, that the defendant corporation, at the time of the execution of the several notes and mortgages in controversy, was, and had been for a long time prior thereto, acting as a corporation in pursuance of articles regularly filed. It had a board of directors and other corporate officers, and was exercising the functions of a corporation. The legality of its organization cannot, therefore, be inquired into in this action. It was at least a de facto corporation, and the rightfulness of its existence can be questioned by the state only: 10 Cyc. 256; Jones…
2Cases cited3 opinions
- O'Conner Mining & Manufacturing Co. v. Coosa Furnace Co.Supreme Court of Alabama · 1891
- Campbell v. Argenta Gold & Silver Min. Co.U.S. Circuit Court for the District of Montana · 1892
- Jones v. HaleOregon Supreme Court · 1898
3Cited by19 opinions
- Timberline Equipment Company, Inc. v. DavenportOregon Supreme Court · 1973
- In re Wilson's EstateOregon Supreme Court · 1917
- Gulf Pipe Line Co. v. LasaterCourt of Appeals of Texas · 1917
- Northern Pacific Ry. Co. v. John Day Irrigation DistrictOregon Supreme Court · 1923
- Alder Slope Ditch Co. v. Moonshine Ditch Co.Oregon Supreme Court · 1918
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