President of Port Gibson v. Moore

Citations

• 21 Miss. 157

Syllabus

<p>It is now the settled doctrine upon common law principles, independent of any statute declaring a different rule, that, upon the dissolution of a corporation, the debts to and from it are extinguished.</p> <p>The town of Port Gibson was incorporated in 1821, and its charter subsequently amended by various acts of the legislature ; in 1841, an act was passed repealing the act of 1821, and all the subsequent amendments: Held, that this latter act, when accepted by the corporation, was a dissolution of it.</p> <p>In 1844, the act of repeal of 1841 was itself repealed, “ and the act for the incorporation of the town passed in 1821, and the other amendatory acts declared to be in full force; ” and the act of 1844 directed “to take effect from and after its passage: ” Held,, that this last act did not revive the old corporation ; but was a new creation, a new act of incorporation, and did not revive former liabilities of the old corporation extinguished by the act of 1841.</p> <p>Whether the legislature have power to revive an extinct corporation, with all its former incidents and attributes, not decided.</p>