ISBN: 9781154312379

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not … More...

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ... Opinion of the Court--Stockslager, J. alleging that defendant bought and paid the full value of said property. It is next urged that defendant company acquired all the property, stock, and business of the Twin Springs Placer Company, and hence cannot escape liability to the plaintiff in this action. In support of this position counsel cite Blair v. St. Louis etc. R. Co. (C. C), 22 Fed. 36, and quote from the decision to wit: A transfer of all the assets from one company to another, whereby, through a mere change of name, an attempt is made to defraud creditors, or which would operate as a fraud on them, will not be upheld as against them, and the transferee taking the property with notice takes it cum onere. Appellants next urge that by reason of the complaint alleging the acquisition of all the stock, property, and business of the Twin Springs Placer Company by defendant company, that the plaintiff was a creditor of the Twin Springs Placer Company, that the defendant company had knowledge of the debt prior to the acquisition of such property, that R. J. Anderson was the general manager of both corporations, a stockholder in both, and had full knowledge, management, and control of both, and such facts being the case, within the rule laid down in C. R. I. & P. R. R. v. Howard, 7 Wall. 392, 19 L. ed. 120, they quote from this authority following: Equity regards the property of a corporation as held in trust for the payment of the debts of the corporation, and recognizes the right of creditors to pursue it into whosoever''s possession it may be transferred, unless it has passed into the hands of a bona fide purchaser. 1 Thompson on Corporations, section 375, is cited to the effect that, where several corporations are united in one, and... Idaho Supreme Court, Books, History, Reports of cases argued and determined in the Supreme Court of the state of Idaho Volume 8 Books>History <