Raleigh v. Earle

Citations

• 185 Pa. 78
• 39 A. 1117
• 1898 Pa. LEXIS 672

Syllabus

<p>Corporations — Reorganization—Discretion of reorganization committee —Extension of time to agree to reorganization plan.</p> <p>Where the reorganization committee of a corporation has the discretionary power to extend the time to a stockholder to sign the reorganization agreement, and has also the power to delegate this discretion to its chairman, and the chairman in the exercise of the power delegated to him orally extends the time to a stockholder, such stockholder has the right, even after the expiration of the time limited in the agreement, to join in the reorganization plan and to participate in its benefits.</p>