Page:Henry Osborn Taylor, A Treatise on the Law of Private Corporations (5th ed, 1905).djvu/440

 THE LAW OF PRIVATE CORPORATIONS. [CHAP. VIII. CHAPTER VIII. RELATIONS BETWEEN THE STATE AND THE CORPORA- TION, 1 INCLUDING RELATIONS BETWEEN THE STATE AND (a) SHAREHOLDERS, (b) OFFICERS, AND (c) CRED- ITORS OF THE CORPORATION. Dual nature of the constitution of a corporation, § 438. Austin's analysis of a law, § 439. Holland's and Kent's definitions, § 440. The term "command" misleading, §441. Definition of a " legal right," § 442. Definition of a" legal relation," §443. The manifestation of rules of law in legal relations, § 444. Legal effect of an act, § 445. The constitution of a corporation, in what respect a law, § 446. Notion of a contract. Two classes of acts, § 447. How the constitution of a corpora- tion embodies a contract, § 448. Acceptance necessary on the part of the corporators, § 449. Contract between the state and the corporation, § 450. Enabling acts and special charters, §451. Two kinds of relations between the state and the corporation, § 452. A charter a contract: outline of the doctrine, § 453. Consideration moving to the state. Its rights. Mandamus, § 454. Railroads, § 455. Through acceptance of the charter on the part of the corporators the state acquires the right to enforce the fulfillment of the corporate duties. Absolute sovereignty, §456. Right of the state to restrain an abuse of corporate powers. Forfeiture, §457. Judicial decree necessary, § 458. Grounds of forfeiture, § 459. Grounds of forfeiture not to be taken advantage of collaterally. Waiver, §460. Rights of the corporation against the state arising from the contract, §461. How enforceable, § 462. Limitations on the rights acquired by the corporation against the state through contract, § 463. Restrictions in state constitutions on state legislatures, § 464. Other restrictions on legislative powers, §§ 465, 466. Corporations created by Congress, §467. Jurisdiction of the Federal courts, §468. 1 Relations, that is to say, between i rate enterprise, and representing all the state and the organic body of I persons in any way interested in it. shareholders controlling the corpo- 1 420