Word: partnerships
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Dates: during 1920-1929
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...winners argued that a "Massachusetts" trust, like all other forms of trusts and corporations, includes, inherently limited liability for its members, who are, therefore, not personally liable for the debts contracted by the agents of the company, as would be the case if it were an ordinary partnership. They also showed that, even if the company was a trust, the members would not be personally liable as principals...
...case is one of contract law, in which the plaintiff, one Emil Borah, is suing the defendants. Nathaniel P. Banks et al, who are members of the "Lone Star Oil Company," a business, or "Massachusetts" trust. This form of company includes some of the features of a partnership, with certain modifications commonly pertaining to a trust. Borah, to whom the company owes $3000, is trying to collect from the individual members of the company on the basis of a contract made with the whole company...
...case is one of contract law, in which the plaintiff, one Emil Borah, is suing one Nathaniel P. Banks et al. for debts. Bank et al. are members of a business or "Massachusetts" trust, which includes in its constitution some of the features of a partnership and some of those pertaining to a corporation. Borah, who has made a contract with the company, is suing the individual members of the trust for the money involved, and the point to be argued is whether he can collect from the individual members of the company. This case is of timely interest...
...right to remain unassociated is quite as vital as the right to join any particular association, nor does this right destroy the other and different right to have or refrain from having contractural relations with the union when so formed. The right to organize a corporation or a partnership of one or many partners compels no one to deal with either. It merely authorizes the collective group to have relations with all who are willing to have relations with it. We thus come to that collision of interests and opinions between the 'open' and 'closed' shop...
...will have learned to know each other. Capital will have learned that workmen are human beings interested in management and profits; labor, that a twenty percent reduction in wages does not mean that the president and his friends are buying new houses and automobiles. Slowly but surely the new partnership is coming into existence, and with it industrial peace...