Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-08-20

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wAERrN CO.. Aegsst 10, lsfS.
SIR: The bank Wigs u rs county g.
my that tEs Counaoa LIS aaiAoFizes saeA
proceedings against 5ankisg eorPorafioo-
as was contemplate By he orisiaal Bris-
eOe bill. Ipresaus they 81 % ;se SANE
with you. Il Is o0ly Necessary - sao,s
from Blackstone. completely 10 refais saeh
denial In the chapter oa CorPoraiinns'
he uses the following ianseage, when be
comes 10 speak of their diSsslssians
ave come now in the AS place - Goa
slider how corporations NAY Re dissolved
ANY particular member nay lcse his pace
in the corporation ~ acting eeuirary %
the laws Of the society, 81 TIE avs q
the land, or be NAV resign q y lts esn
voluntary act. BGl The body Po,iiic uiay
also itself be dissolved. - several uaNss
shich dissolution Is he clssl death e the
corporation, and in this easo tae1r haas
and tenemenis shall revert p tec neFsan
or his heirs who granted taerD O. TIE cug-
poration. for the law doth annex q coaji-
lion 10 such grant, that Il he eoFPoraueu
be dissolved, The grantee sasA have The
lands sgain, because The cause 81 The Grant
failelh.
a The debts Of 4 eorparaiiaa. sitAer g.
or from. are totally srsiagsiskfd 81 is Dis
solution, so that tae members theseaf can
not recover or BE ehaEge1 wisa ghem. In
their natural capacities. 4 eorPcrahaa
may be dissolyed.-l. D. scs 81 Para
meni. which il bound.ess IL Is opcraf.oas.
= b. the natural death It al as rirm-
berS. 3. By surrender e is iFnnchses
into the hands Of The kiag. wasch = a
kind Of suicide. {. b loEfeitare q a.
charter through negligence or atGsc 81 a.
franchises, IN which case he izw in3scs
that the body podJc has brpkcn the vCnil-
ton upon which i vas incorporated. and
theTeupon the Incorporates = vosA And
the regular course = % bssas ar ms sa,s-
ton in the nature 0f ursg ct Gao a-grraal5
10 enquire - uhat warrant me memecrs
now exercise theireorp rate poser. has i---
forfeited Il By such and sch proceetslcs.r
~ Gonna roL I, P. 40,a, 4oi, 49S.
THIS We thiak Is sulEcieni'y PLATA ana
explicit bat 70 make il yet s,rc-ser. anl sf
possible silence every doatt, ne give =
quotation frcm Chaueel,or Keu;. Mo : a
coed whig, written abazs twsaty wears
ago. In treating f eorParauoas, he uses
the following emphatic language
" According 90 the settled a. IL he
land where there IS uo SPECIAL Statute pro
vision 70 the contrary, upoa The eisl teatA
OF 4 corporation al us real estate reuain.
ing uusold rever,s Ia-k 10 tie or.ssusl
gIant0r and h;s heirs.
The dcb,s 20 ard from The corrora-
ton are az eNtinaQlshe8. Nenhsr tae
stockholders, nor diFectars, Or trustees -
Inc Corporation can rerover those. a. o.
charged With them in thesr natnr1l car,cs-
~. Al the personal estate OF the cgreo-
ration vests IN the people, IS sacceealn-
to this riga, and PresOgause q the cr,sn
at COMMON lac l. Krnf So1- I
Ia 1923, The thea Slate BlEk u lnI.a. /
NJ vas eNtiasuished, Wi,h all us debss. n I
With the doctrine Pros,.als1tel /
BY Blackstone and Keat TIE case can
be found in ! B.ackiori's RePar;s. P. so. I
In this case, the Legislature hal sP7oia,-
ed commissioner 10 take ehas-e o. the 4
debts OF the bank. aal collect thea. TAs|
act was oHsirs[g disregsrz.s 3 .le Cs-rt. 4
which used the following lansiagss
1.-The debts must therefore Be canss se--
ed on Commoa Law priuciales un-tTeete1 (
0Y the act, and therefore snaie-r l. ex-
by dissola,.ea of tae err
'oranon.H