Acquisition-(continued.)

American rule as to, § 245.
legislative authority for, 245.
land taken by compulsion, 245.
by grant or license, 246.

by verbal consent of owner, 246.

of land by railroad for speculation not authorized,

247.

railroad cannot acquire land for dwellings, 247.
Actions. See SUITS.

corporate capacity to bring, 46, 147.

must be brought in corporate name, 47.
in what courts brought, 48, 74.

against a foreign corporation, 74.

for trespass, 81.

by corporation upon executed contracts, 101.
instances of the application of the doctrine, 102.
to recover back subscription, 111.

against stockholder upon his subscription, 120.
on refusal of company to make transfer of stock,
122.

for negligence against directors, 142.

at law, 147.

corporation of one state may sue in another, 147.
foreign corporations may sue in District of Colum
bia, 147.

by receiver of corporation, 175.

for deposit in bank, 220.

against savings' bank by depositor, 229.

for usury must be commenced in two years, 235.
for usury, when statute of limitations begins to run,

235.

jurisdiction of action for usury, 235.

to recover loans by national banks, 236.
against railroad companies, 269.

on subscription to religious society, 277.

by clergyman against religious society, 282.
on implied contract, 300.

for recovery of tax illegally imposed, 300.

for recovery of money paid for void bonds, 300.
in tort, liability of municipal corporation to, 313.
against municipal corporations, 313.

against school directors, 324.

against associations, 333.

Admissions of officer or agent, when binding on corpor

ation, 141.

of president, when binding on company, 144.

Agents, power of, to bind corporation, §§ 43, 76, 128, 132.
may bind corporation by simple contract, 44.
private seal of, not binding on corporation, 50.
execution of corporate deed by, 54.

fraudulent conduct of, 79.

tortious acts of, 80.

subscription to stock by, 108.

business of corporation conducted by, 127.

power to appoint, 128.

how appointed, 129.

evidence of appointment, 130.

when appointment of, presumed, 130.

who may be, 131.

powers of, in general, 132.

corporation bound by tortious conduct of, 132

limitation of power, 132.

how powers must be executed, 133.
place ofexercising powers, 134.
determination of agency, 136.

compensation of, 145.

of bank, 214.

railroad company liable for acts of, 256.

liability of municipal corporation for acts of, 301.
of association, liability of, 329.

when association bound for goods furnished by, 331.
Alteration of by-laws by directors of corporation, 56.
effect of, on contracts of subscription to stock, 120.
in what cases subscriber is discharged by, 120.
of railroad route, 251.

when subscriber not released by, 240.
See CALLS.

Assessments.

modes of, 89.

definition, 117.

power of corporation to levy, 117.

paid corporate stock cannot be assessed, 117.

when void, 117.

who liable to, 118.

payment how enforced, 119.

cannot be made until whole sum is subscribed, 240.

for improvement of streets, 294.

Assets, power of corporation to alienate, 40.

title to, 41.

are a trust for the payment of debts, 41.
effect of transfer of, 204.

of associations, interest of members in, 332.
Assignment of shares of stock, 108, 240.

of stock, how effected, 122.

BOONE CORP.-45.

Assignment-(continued.)
how enforced, § 240.

railroad company may assign its subscriptions, 243.
Associations, voluntary, nature of, 325.

laws respecting, 325.

relations to third persons, 325.

controversy among members of, 325.

have some elements in common with corporations,
325.

subject to control of courts of justice, 325.

how regarded in England, 325.

powers of, in general, 326.

cannot sue in corporate capacity, 326.

how suit may be brought, 326.

part of the members cannot bind others, 326.

construction of statute authority, 326.

bequests and devises to, 327.

capacity to take bequests, 327.

powers and duties of officers of, 328.

relation of directors of, 328.

authority of president as to contract, 328.

expenditures by trustees of, 328.

construction of rule in case of officer under charges,

328.

cannot confer judicial powers upon officers, 328.
liability of officers of, 329.

treasurer liable for money in his hands, 329.

liability of agent on contract, 329.

liability of committee of, 329.

liability of trustees, 329.

rights of members, 330.

privileges of membership, 330.

property purchased by members, 330.

privileges of membership in fire company, 330.

right to seat in stock exchange cannot be attached,

330.

liability of members individually, 331.

action against representatives of deceased mem-
ber, 331.

goods furnished on order of agent, 331.

bill of exchange drawn by, 331.

funds and assets of, 332.

interest of members in funds of, 332.

right to property of, in case of dissolution, 332.

funds of, how may be appropriated, 332.

profits of a fair, how to be applied, 332.

debts of non-members to be paid before claims o
members, 332.

Associations-(continued.)

right of member to maintain action against, § 333.
rights of minority in distribution of funds, 333.
members of not entitled to compensation, 333.
action by, against its treasurer, 333.
action on a promissory note, 333.
rule as to actions in New York, 333.
how dissolved, 334.

what considered ground for dissolution, 334.
expulsion of members, 335.

members must be held to their contract, 335.
grounds for expulsion, 335.

by-laws are binding on the members, 335.

by-laws must not be inconsistent with law, 335.
review of proceedings in case of expulsion, 335.
joint-stock, 337.

charitable societies, 339.

Baggage, what constitutes, 259.

liability for carriage of, 259.

delivery of check relieves passenger of care of, 259.
must go on same train as passenger, 259.

Banks, definition, 212.

right to exercise banking powers, 213.

Sovereign authority may regulate the right, 213.
business may be made a corporate franchise, 213.
business must be carried on in accordance with law,
213.

are corporations, 213.

banking powers exercised by corporations, 213.
banking powers not conferred by implication, 213.
Congress has power to incorporate, 213.
nature of the business in England, 213.
statutes establishing banks, 213.

statute referring to a bank by name, 213.
powers of, 214.

may borrow money, 214.

may issue evidences of debt, 214.

may take and hold stock and bonds, 214.

cannot traffic in stocks and bonds, 214.

power to purchase and traffic in promissory notes,
214.

power to deal in bills of exchange, 214.

may deal in checks, 214.

may appoint agent to transact its business, 214

may transfer negotiable note, 214.

right to sell any of its property, 214.

bound by the same obligations as an individual, 214.

not exempt from usury laws, 214.

Banks (continued.)

may receive interest in advance when, § 214.
discounting or loaning money, 214.

directors, powers of, 215.

directors may delegate to committee authority to
mortgage real estate, 215.

directors may authorize president to borrow money,
215.

directors alone have power to make discounts and
loan money, 215.

funds of, to be used only for proper banking pur-
poses, 215.

directors act in relation of trustees in reference to
corporate property, 215.

directors are liable for losses arising from miscon-
duct, 215.

directors not liable for excusable mistakes, 215.

notice to directors is notice to the bank, 215.

president, powers of, 216.

president may take charge of litigations, 216.

president as business agent, 216.

services of president generally gratuitous, 216.
cashier, power and duties of, 217.

cashier is the executive officer, 217.

acts of cashier binding, 217.

cashier cannot transfer non-negotiable paper with-
out authority, 217.

cashier cannot bind bank by official indorsement of
his individual note, 217.

cashier cannot release a surety upon note held by
the bank, 217.

cashier cannot bind the bank to indemnify officer
for levying execution, 217.

cashier cannot execute mortgage on the real estate
of the bank, 217.

cashier cannot certify post-dated checks, 217.

cashier cannot pledge assets of bank, 217.

cashier cannot defend suits against the bank, 217.

cashier may borrow money, 217.

cashier may make transfer of shares, 217.

liability of cashier, 217.

office of teller, 218.

duty of paying teller, 218.

duty of receiving teller, 218.

when liable for negligence of teller, 218.

deposits, 219.

when deposit deemed general, 219.

relation of banker and customer, 219.