Latshaw v. Western Townsite Co.

Citations

• 91 Wash. 575
• 158 P. 248
• 1916 Wash. LEXIS 1101

Syllabus

<p>Corporations — Powers—Trusts. Tlie fact that a land company in the transaction of its authorized business necessarily sustains fiduciary relations to a limited extent toward those dealing with it does not render it amenable to the statutes governing corporations organized to carry on a distinctively “trust” business.</p> <p>Corporations — Foreign Corporations — Power to Deal in Real Estate. Under Rem. & Bal. Code, § 3720, prohibiting foreign corporations “hereafter organized” from exercising the power of dealing in real estate, a foreign corporation organized before the enactment of the statute, but obtaining a certificate enabling it to transact business in the state after the date of the enactment of such section, has power to carry on such business in this state, the issuance of certificate of admission not constituting organization within the meaning of the statute.</p> <p>Corporations — Foreign Corporations — Acts. The acts of a foreign corporation in excess of its powers as to dealing in real estate in contravention of Rem. & Bal. Code, § 3720, can be questioned only in a proper proceeding by the state.</p>