Carroll v. Pacific National Bank

Citations

• 19 Wash. 639
• 54 P. 32
• 1898 Wash. LEXIS 441

Syllabus

<p>•CORPORATIONS — AUTHORITY TODO BUSINESS — INSOLVENCY — PREFERENCES — RECEIVERS — COLLATERAL ATTACK.</p> <p>Although a corporation may not have been legally formed, the •objection cannot be raised by the corporation or one dealing with .it, to the injury or loss of other parties.</p> <p>The fact that an insolvent corporation makes payment of a $1,250 note due a bank by transferring to the bank $1,200 worth of whisky would justify an inference that the bank had knowledge of the insolvent condition of the corporation.</p> <p>Where a court, having jurisdiction of the parties and the subject matter, appoints a receiver, the validity of the appointment •cannot be challenged in a collateral action.</p>