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Excerpt from Essay on Ultra Vires In Kent v. Quicksilver Mining Co 148 the complainants' charter gave no authority to issue preferred stock, and the company did make such issue by authority of bv-la11 s passed at a regular meeting. The stock was dealt in for four years, and then an actionc was brought to obtain a judicial declara tion that the company had exceeded its powers in creating the stock, but the corporation w as held in the court to have acquiesced and ratified the act and to be bound by it. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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