Page:Henry Osborn Taylor, A Treatise on the Law of Private Corporations (5th ed, 1905).djvu/28

 § 13.] THE LAW OF PRIVATE CORPORATIONS. [CHAP. II. certain form ; that is an ordinance testifying the king's desire, but it is but a precept and does not bind in law. 5. That the survivors shall be a corporation, that is a good clause to oust doubts and questions which might arise, the number being cer- tain. 6. If the revenues increase, that they shall be used to increase the number of the poor, etc., that is but explanatory. 7. To be visited by the governors, that is also explanatory. 8. To make ordinances ; that is requisite for the good order and government of the poor, etc., but not to the essence of the incorporation. ... 10. The license to purchase in mortmain is necessary for the maintenance and support of the poor, for without revenues they cannot live, and without a license in mortmain they cannot lawfully purchase revenues, and yet that is not of the essence of the corporation, for the corpora- tion is perfect without it." ' " And it is great reason that an hospital, etc., in expectancy or intendment, or nomination, should be sufficient to support the name of an incorporation, when the corporation itself is only in abstracto ;. . . . for a corporation aggregate of many is invisible, immortal, and rests only in intendment and con- sideration of the law ; and therefore in 39 H. 6, 13 b. 14, a dean and chapter cannot have predecessor nor successor, 21 E. 4, 27 (72) a, and 30 E. 3, 15. They cannot commit treason nor be outlawed nor excommunicate, for they have no souls, 2 neither can they appear in person, but by attorney. A corporation ag- gregate of many cannot do fealty, for an invisible body can neither be in person nor swear ; and .... it is not subject to imbecilities, death of the body and divers other cases. A thing which is not in esse but apparent expectancy is regarded in law. 3 .... So note, reader, a difference between an estate or interest, which none can take without present capacity, and a power, liberty or franchise, or thing newly created, which may take effect mfuturo."* § 13. By implication as well as by express words could a i lb. 30 b and 31 a. 2 Tbat corporations have no souls was clearly demonstrated before the days df railroads. " None can create souls but God; but the king creates corporations; therefore they have no souls .... and this was the opinion of Manwood, chief baron, touching corporations." Tippling v. Pexall, 2 Buls. 233. 3 Sutton's Hosp., 10 Rep. 32 b.
 * lb. 27 b.