Definition-(continued.)
school district, § 322.
voluntary association, 325.
joint-stock company, 337.
charitable institution, 339.

Deposits, nature of, general or special, 219.

relation of bank to depositor, 219.

create a debt, 219.

how far bank responsible for, 219.

bank not bound to receive all that is offered, 219.

duty of bank as to, 220.

in what funds payable, 220.

liability of bank for conversion of, 226.

action to reclaim, 229.

power of national bank to receive, 231.

Devise to corporation, 53.

powers in regard to, 53.

Directors. See OFFICERS.

acceptance of charter by, 23.

acts of inajority of, when binding, 65.
meeting of, outside of corporating state, 66.
rights of de facto, 71.

office of, 139.

regarded as agents, 139.

who eligible as, 140.

how selected, 140.

cannot delegate their duties to others, 141.

when interested in contracts, 141.

rights and liabilities of, 142.

authority to bring suit for corporation, 150.

suit against, 150.

of banks, 215.

of railroad are trustees as regards contracts, 256.
of railroad bound to act for the benefit of the com-
pany, 256.

cannot be individually interested in contract, 256.
of voluntary corporations, 328.

Disfranchisement of members by corporations, 49.
grounds for, 49.

Dissolution of corporations, 197.

grounds of, 197.

by legislative act, 198.

by loss of members, 199.

effect of omission to elect officers, 200.

by voluntary surrender of franchise, 201.

effect of insolvency, 202.

by forfeiture of charter, 203.

effect of transfer of assets, 204.

Dissolution-(continued.)
effect of non-user, § 205.
by winding up, 206.
effect of, 207.

effect of on pending suits, 208.
effect of on contracts, 209.

effect of on rights of creditors, 210.
revival of corporation, 211.

of railroad company, 244.

by expiration of charter, 244.

by abandonment of charter, 244.

railroad company not dissolved by lease of road,

244.

sale of road does not dissolve railroad company, 244.
consolidation of two railroad companies, 244.
of associations, right to property, 332.

of associations, how effected, 334.
ground for, of associations, 334.

of joint-stock companies, 337.

of charitable society, 339.

Dividends defined, 125.

guaranty of, what is, 125.
who may declare, 125.

unjust discrimination in, 125.

improperly declared, may be recovered, 125.

how paid, 125.

application of, by directors, 125.

interest on, 125.

demand for, 125.

action to recover, 125.

Earnings. See DIVIDENDS.

net, what are, 125.

future, mortgage of, 180.

when mortgagor entitled to, 180.

sequestration of, 169.

Easement, franchise of a railroad is an, 238.

use of street by a railroad is a burden beyond, 248.

Elections, mode of conducting, 67.

regulations respecting, 67.

power to elect may be vested in board of directors,
67.

majority of those voting elect, 67.

adjournment will not invalidate, 67.

time and place of holding, 68.

who may vote, 69.

right to vote by proxy subject to legislative sanc-
tion, 69.

validity of, 70.

A

Elections (continued.)

illegal votes do not necessarily vitiate, § 70.
presumptions bearing on, 71.

of officers of religious societies, 281.
Eleemosynary corporations, what are, 6.
distinguishing characteristic in English law, 6.
have no incidental power of legislation, 55.
power of founder to prescribe regulations, 55.
visitors of, 194.

Eminent domain, definition and nature of, 91.
restraints upon the right of, 91.

delegation of the power to corporations, 92.
statutes delegating the right must be strictly com-
plied with, 92.

for what purposes exercised, 93.

what property liable to, 94.

nature of title acquired by, 95, 250.

compensation for property taken under right of, 96.
what acts constitute a "taking," 97.

legislature may take franchise of railroad, 238.
lands appropriated by the right of, 247.

necessity must exist for appropriation of land by,

247.

dwelling-house not exempt from right of, 247.
private contracts subordinate to right of, 247.
Employees, duty of railroad company toward, 267.
of railway company must be competent, 267.
injury to, by neglect of railroad company, 267.
duty of, to follow instructions of railroad company,

267.

employer not liable for negligence of co-servant, 267.
of railroad are fellow-servants, 267.

Equity. See SUITS.

jurisdiction of courts of, over bequests, 52, 340.
suits in, 148.

when suits in, can be maintained, 148.

courts of, will interfere to prevent acts ultra vires, 148.
may restrain abuse of corporate powers, 149.

court of, may appoint receiver when, 172.
will restrain invasion of burial-lot, 280.
may enforce charitable uses, 340.

Estoppel, effect of on transactions ultra vires, 104.
corporation may be bound by, 104.

of stockholder to object to assessment, 118.
when subscriber to stock is bound by, 121.

of railroad company from denying its corporate ex-
istence, 239.

of railroad company from claiming that contract
was ultra vires, 243.

Evidence of change of corporate name, § 31.
of organization of corporation, 34.

of ownership of corporate property, 41.
of authority to affix seal, 50.

by-laws as evidence, 61.

of location of railroad, 251.

Excavations in streets, liability for damage from, 306.
city may recover from owner for injury from, 306.
Execution at common law, 168.

what corporate property subject to, 168, 170.
exemption of corporate franchise, 169.
rule as to rolling stock, 170.

shares of stock not liable to, 171.

taxes and public revenues not liable to, 313.
Express companies, railroad may carry on business of,

238.

are common carriers, 257.
messengers of, on railroads, 259.

Expulsion of members of a corporation, 49.

grounds for, 49, 335.

cannot be exercised in an arbitrary manner, 49.

of members of a religious society, 282.

effect of in England, 283.

effect of in United States, 283.

suit for wrongful, 283.

of members of association, 335, 338.

battery cannot be inflicted in case of, 335.

injunction to restrain, 335.

review of proceedings in case of, 335.

right of member to be heard, 338.

when member may be restored by mandamus, 338.

Fences, duty of railroad as to, 253.

at common law a railroad is not bound to fence its
track, 253.

railroads not liable for neglect to make cattle-
guards, 253.

railroad bound to use care to keep cattle from the
track, 253.

railroad liable to passengers for neglect to build,
253.

railroad liable for cattle killed by negligence, 253.
if required by statute, railroad liable for injury
from neglect to build, 253.

statute requiring, is constitutional, 253.
duty to erect involves duty to maintain, 253.
reasonable time for repair of, 253.

obligation to erect, takes effect when, 253.

liability of railroad extends to all animals, 253.

Fences (continued.)

requirement to fence either or both sides of track,
$253.

requirement to keep its road securely fenced, 253.
requirement to keep cattle-guards at road crossings,
253.

railroad not bound to fence against straying cattle,
253.

contributory negligence may defeat an action as to,
253.

contract by landowner to keep in repair, 253.

Fire, damage from, city not liable to an action therefor,
300, 307.

city may adopt means to prevent damage by, 307.
city may establish fire limits, 307.

erection of wooden building within fire limits, 307.
power to organize fire department, 307.

destruction of building to stop the spread of, 307.
city not liable for damage by voluntary fire com-
pany, 307.

Foreclosure, effect of, 184.

usually regulated by statute, 184.

of railway mortgage, 184.
Forfeiture of stock, 119.

option to forfeit stock is with the corporation, 119.
power of corporation to subject stock to forfeiture,

119.

of shares, suit in equity may be maintained to an-
nul, 148.

of charter, how enforced, 203.

suspension of payment as ground of, 229.
of charter of railroad company, 244.

Franchise, legislature may confer, 35.

cannot be sold under execution, 35.
must emanate from sovereign power, 35.
consists of what, 35.

subject to state taxation, 87.

may be taken by eminent domain, 95, 238.
mortgage of, 179.

effect of voluntary surrender of, 201.

of railroads, 238

of railroads may be conferred on natural persons,
238.

of railroads is usually conferred on a corporation,
238.

public utility is the consideration for the grant of,
to railroads, 238.

must not be exercised to promote monopoly, 238.