Taylor v. North Star Gold Mining Co.

Citations

• 79 Cal. 285
• 21 P. 753
• 1889 Cal. LEXIS 721

Syllabus

<p>Corporation—Liability for Money Borrowed to Pay Expenses Incidental and Collateral to Act Which is Ultra Vires — Assessment. —In the absence of fraud, a corporation is liable for money borrowed from one of its stockholders for the payment of expenses which were collateral and but incidental to an act which may have been ultra vires, such expenses not being inseparably connected with the main act.. Being liable for such money, the corporation could levy an assessment to pay it.</p>