A Treatise on the Doctrine of Ultra Vires

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Excerpt from A Treatise on the Doctrine of Ultra Vires: Being an Investigation of the Principles Which Limit the Capacities, Powers, and Liabilities of Corporations, and More Especially of Joint Stock CompaniesCorporations of all kinds, and notably joint-stock companies, fill a position in modern social economy of ever increasing weight and significance. 'the tendency in the United Kingdom, and still more in the Colonies and in the United States, is to incorporate every district as the ultimate limit of local government, while the conversion, by the simple process of registration under the Com panies Act, 1862, and similar statutes, of commercial concerns of every description into corporations, is proceeding with great rapidity. Litigation is necessarily incident to change, and the tendency to litigation is not lessened in the case of intangible companies by reason of the facts that the interests concerned are serious, the funds to supply the sinews of war are large, often enormous, and the risks are shared by a large community of members, and not by one only, or a few. Probably in at least one half of the disputes which come before the Courts where the stakes are worth litigating, companies are directly parties or indirectly affected. Consequently during the period that has elapsed since the last edition of this Book numerous decisions of extreme importance on the general law relating to corporations and companies, and specially on the subject of Ultra Vires, have been delivered. It cannot, however, he said that those branches and portions of the Law are in anything like a satisfactory state which deal with the powers and capacities, the rights and liabilities, of corporations generally, and particularly of joint-stock companies and their officials, members and creditors.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.