Page:Henry Osborn Taylor, A Treatise on the Law of Private Corporations (5th ed, 1905).djvu/111

 PART I. J CONSTRUCTION OF CORPORATE POWERS. [§ 120. PART I. CONSTRUCTION OF CORPORATE POWERS. General rules regarding corporate powers, § 120. Corporate powers to be construed rea- sonably, § 121. Certain powers and privileges to be construed narrowly, § 122. Power to raise money, § 123. By issue of stock, § 124. By borrowing. Corporations may mortgage tbeir property. Excep- tions, § 125. "Deferred income-bonds," § 126. Power to guaranty, § 127. Power to bold land. Statutes of mortmain, § 128. Power to acquire personal property, § 129. Power to alienate, § 130. Power to transfer franchises, §§ 131, 132. Power to increase or decrease the capital stock, § 133. Power of a corporation to purchase its own stock, §§ 134, 135. A corporation may reissue its shares purchased by it, but cannot vote on them, § 136. Capacity of a corporation to sue, §137. Suits must in general be brought in the name of the corporation, § 138. When a shareholder may sue on be- half of the corporation, § 139. Sbareholder must allege demand on the corporation to sue, §§ 140, 141. Right of sbareholder to sue in re- spect of injuries already accrued, §142. Service of process on corporations, §143. Effect of appointment of receiver, §144. Corporate franchises cannot be ques- tioned collaterally. General rule, §145. Scope of the rule when an estoppel affects the case, §§ 146-150. Scope of the rule when no estoppel exists, §§ 151-156. Defective organization remediable, §157.. Right to corporate name, § 158. Effect of misnomer, § 159. Powers of banking corporations, §161. Powers of railroad corporations. Eminent domain, §§ 162-164. Rights of the corporation as to land acquired by eminent domain, § 165. Eminent domain not transferable, §166. § 120. General rules regarding the powers of corporations have often been laid down, both in text books and in adjudicated cases. In regard to these rules them- selves there is less difference of opinion than in re- gard to their application. In the first place, corpora- tions ordinarily have still the common law capacities which 91 General rules re- garding corporate powers.