Word: trusts
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Dates: during 1920-1929
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...tried last night in the Supreme Court of the Ames Competition is one of unusual interest at the present time, because it is parallel to numerous cases which have recently come up in the courts of Texas. The defendant, N. P. Banks et al., are members of a "Massachusetts" trust, the Lone Star Oil Company. The plaintiff, one Emil Borah sued them personally and individually for debts contracted by the company as a whole. The question of the case lay in whether or not the members of such a trust can be held personally responsible for the company's debts...
...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...
...limit the judgment in this case; and that, even if the court is of the opinion that no contract was made, the plaintiff can nevertheless recover. The counsel for the defendants claim that Banks et al. are not personally liable, because the Lone Star Oil Company is a trust, which includes limited liability; and that, even if it is not a trust, the members are not personally liable. The case, then, rests upon the nature of a "Massachusetts" trust...
...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...
...meeting of the Banking Group of the Business School Club at 7.30 o'clock this evening in the Colonial Club, Dean W. B. Donham '98 will speak on "The Opportunity in Banking". Dean Donham was formerly vice-president of the Old Colony Trust Company in Boston...