Chauncey W Smith (2 results)

Softcover. Condition: Fair. White soft cover, lightly soiled, text solid. Ex-lib. Nevada.

Paperback. Condition: New. Print on Demand. This book argues that early railroad corporations in the United States had a personal liability to pay any debts incurred by the company. This proposition is examined through the lens of two statutes: one from Massachusetts and the other from Connecticut. The author contends that both statutes created an implied promise on the part of the stockholder to pay company debts and that this promise was enforceable even if the statutes also provided for the sale of the stockholder's shares to satisfy those debts. An examination of relevant case law is provided to support this argument. The book concludes that the statutes in question did indeed create a personal liability on the part of the stockholders and that this liability was an important factor in the development of railroad corporations in the United States. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.