Publisher's Synopsis
Excerpt from Commentaries on the Law of Public Corporations Including Municipal Corporations and Political or Governmental Corporations of Every Class, Vol. 1 of 2
In these volumes I have attempted to consider all the law of public corporations, including municipal corporations, and governmental or political corporations of' every class. The scope of, the work is, therefore, somewhat wider than that of any other. With which I am acquainted. I have proposed to myself the task of making a treatise which shall cover the entire field of public company law in all its details, using the term public companies in its widest modern sense, and I have studiously undertaken in the volumes in hand not to omit the law, as declared in the decided cases or defined by statute, of any sort of a public corporation.
This work, therefore, and my Private Corporations (chicago, 1891) complement each other, and, taken together, are intended to constitute a complete treatise, in four uniform volumes, on Company Law in all its phases, from the federal government at the one extreme - which, in this country at least, is the first of public corporations (united States to. Man rice, 2 Break. 96, 109 (per Marshall, 0. J Ableman v. Booth, 21 How. Possessing defined and limited corporate powers, with the capacity to contract and be contracted with, to sue in its corporate name The Government of the United States, Cohens v. Virginia, 6 Wheat. 264) and to be sued by consent, and which, having been duly created as a corporation by the people of the several original States, acquired a true cor potate entity, and went into operation, or commenced the transaction of its business, on Wednesday, March 4, 1789 (owings C. Speed, 5 Wheat. 420) - to the most insignificant joint-stock association or local incorporation, at the other extreme. Within this wide range should seem to be included every sort of an association among men which' passes for a. Corporation or a company, aside from partnerships on the one hand, and political S'overeignties on the other.
The subject of Public or Municipal Corporations, as com pared with that of Private Corporations, is, both in this coun try and in England, largely statutory, and the intelligent reader will, therefore, perhaps not be surprised at the space given in the text to the consideration of many local statutes and ordinances. Sometimes these statutes are types of classes of statutes found in many States, but perhaps more frequently are distinct and 8m? Generis, and must, therefore, in a treatise designed to be general, be separately considered.
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