Page:Henry Osborn Taylor, A Treatise on the Law of Private Corporations (5th ed, 1905).djvu/157

 PART II.] ACTS WITHIN THE CORPORATE POWERS. PART II. «*. • " "^ S '# c ACTS WITHIN THE CORPORATE POWERS. When a corporation is not liable for loss occurring by reason of its acts, §167. Corporate franchises not to be ques- tioned collaterally, § 168. But for their improper use the corpo- ration liable to injured individuals, § 169. Continuation of liability after a dele- gation of franchises, § 170. Corporation always liable when its acts amount to a taking of private property, § 171. Meanings of the term "property," §172. What constitutes a taking, § 173. When the person injured is not the full owner, § 174. Railroad tracks in streets, §§ 175, 176. Distinction between private and public corporations, § 177. Measure of compensation, § 178. What benefits may be set off, § 179. Acts of the body corporate ; when binding, § 180. Acts of the body corporate ; when held invalid, §§ 181-183. Manner in which the body corporate should act, § 184. Formalities required by statute. Consent of shareholders, § 185. Certification of the performance of formalities, § 186. Individual shareholders cannot act for the corporation, § 187. Validity of the acts of de facto offi- cers, § 188. Principles on which rests the validity of the acts of de facto officers, §189. Limitations, § 190. General rules regulating the respon- sibility of corporations for the acts of their agents, §§ 191, 192. Rules of the law of agency appli- cable. Acts within the ordinary scope of the agent's authority valid, § 193. Effective limitations on the author- ity of corporate agents, § 194. Class I., § 195. Effect of by-laws, §§ 196, 197. Class II., §§ 198, 199. Class III., §§ 200, 201. Authority of agent depends on his actual functions rather than on the name of his office, § 202. Validity of agent's acts; when not affected by extrinsic facts, § 203. Presumptions in favor of the validity of the acts of corporate agents, §204. Negotiable paper. Money borrowed in excess of statutory limit, § 205. Assumption of unusual facts unwar- ranted, § 206. Certification by agent of facts on which his authority is conditioned, §§ 207, 208. Not binding on the corporation when the other party knows its falsity, § 209. Admissions of corporate agents. Notice to them, § 210. Ratification of unauthorized acts, §211. Formal ratification not necessary, §§212, 213. Ratification through accepting ben- efit of unauthorized act. Kuowl- 137