...stock, that means that such capital stock has been paid for in cash or its equivalent at its par value. The capital stock of a corporation Is a trust fund for the benefit of those who deal with it, and stockholders who purchase stock at less than par value perpetrate a fraud...

...condition of the affairs of the bank cannot have the talismanic effect of vitalizing the note. The doctrine that the capital stock of a corporation is a trust fund for the payment of its debts — particularly so after its Insolvency — contributed, as an element, to the...

...is not a statutory obligation at all, but an obligation in equity arising out of the consideration that the capital stock of a corporation is a trust fund for the payment of its debts. Only so much of the unpaid capital as is necessary for the payment of the debts...

...Ch. App. 611; Kennedyz'. Panama, etc., Mail Co., LR 2 QB 580. 1. As a general rule, it may be stated that the capital stock of a corporation is a trust fund for payment of its creditors; that persons trusting it have a right to assume that the amount of its stock...

...Cent. Dig. vol. 7, Bills and Notes. §§ 024-932.] 4. CORPORATIONS— CAPITAL TRUST FUND FOB CREDITORS. The capital stock of a corporation is a trust fund for the benefit of Its creditors. 5. BILLS AND NOTES — BONA FIDE PURCHASERS — TITLE OF TRANSFEREE. The transferee of the personal...

...stock, we understand it is placed, by the learned counsel for the plaintiff, mainly on the proposition that the capital stock of a corporation is a trust fund for the security of creditors, which cannot be given away or distributed among stockholders so long as debts...

...litigation for their interests in opposition to his own, or after he has settled his claim. It is true that the capital stock of a corporation is a trust fund for the security of the creditors, and the amount recoverable from the stockholders under the statute in addition...

...notes of the American Insurance Company formed part of its capital stock, nor can there be any question that the capital stock of a corporation is a trust fund for the payment of its creditors. This has been uniformly held. Bartlett v. Drew, 57 NY 587 ; Hastings v. Drew,...

...that in which every creditor puts the money he lends at the risk of the solvency of his debtor. If the capital stock of a corporation is a trust fund for the benefit of its creditors, and if subscribers to stock who have not paid their subscriptions are regarded as trustees of this fund...

...admission of its corporate existence. It is disallowed when it militates against the well-established doctrine that the capital stock of a corporation is a trust fund for the payment of its creditors. We know of no case however which goes to the extent that in a suit by a corporation...