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American law review (1902)

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American law review (1902)

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    Available in PDF Format | American law review (1902).pdf | Unknown
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Excerpt from book: EFFECT OF CONSOLIDATION OF CORPORATIONS UPON RIGHTS OF ACTION AGAINST THE CONSTITUENT COMPANIES. The plaintiff in a recent case1 was a traveling salesman for a snuff company, and had entered into a contract with it for his services for the year 1900. After the contract was made the company consolidated with other corporations engaged in the same kind of manufacturing business, and formed a new corporation under the laws of another State. The new corporation refused to carry out the contract which had been made with the plaintiff, and he thereupon brought suit upon an open account for wages and expenses under his contract, and attached funds in the hands of a creditor of the new corporation. The question was, whether the right of action existed against the new corporation which bad acquired all of the property of the company making the contract, or whether the action should have been prosecuted to judgment against the constituent company, and whether.the plaintiff should then have pursued his remedy against the assets of such company then in possession of the new corporation, by a creditor's bill. The trial judge sustained a motion to exclude from the consideration of the jury all the evidence relative to the items in the account for salary and expenses under the contract, to which plaintiff excepted, and appealed. This question was also presented, by a bill in equity, to the same court and a simultaneous decision was rendered upon the following state of facts:a A long distance telephone company had entered into a ten-year contract with a local telephone company for the use of the latter company's poles within the limits of an incorporated city, and for suitable space in its exchange, 1 Morrison v. American Snuff Co. zens' Tel. Co. (Miss.), 30 South. Rep. (Miss.), 80 So...  
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  • PDF | 696 pages
  • Unknown Author
  • General Books LLC
  • Unknown
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