...shall be received or taken without such payment. § 42. Consideration for issue of stock and bonds. — No corporation shall issue either stock or bonds except...for the use and lawful purposes of such corporation. No such stock shall be issued for less than its par value. No such bonds shall be issued for less than...

...bondholder. Fictitious § 14. No corporation organized under this act shall issue either stock orstock! or bonds except for money, labor done, or property actually received for the use and legitimate purposes of such corporation at its fair value, and all fictitious increase of stock or...

...under which the WK Niver Coal Company is organized, it is provided that no corporation shall issue stock or bonds except for money, labor done, or property actually received; that all fictitious increase of stock or indebtedness over and above the honest valuation of the property...

...damage caused by such over-issue to such bondholder. § 14. No corporation organized under this act shall issue either stock or bonds except for money,...done, or property actually received for the use and legitimate purposes of such corporation at its fair value, and all fictitious increase of stock or...

...Constitution of the State of Pennsylvania in article 16, section 7, provides that ' no corporation shall issue stock or bonds except for money, labor done or property actually received, and all fictitious increase of stock or indebtedness shall be void. The stock and indebtedness of corporations...

...authority to issue its stock or bonds for services to be rendered in the future. The prohibition was that: "No corporation shall Issue either stock or bonds...the use and lawful purposes of such corporation." It is conceded that at the time this agreement was made no services had been performed, no labor done....

...It is true that section 42 of the Stock Corporation Law (Laws 1892, p. 1835, c. 688) provides that no corporation shall issue either stock or bonds,...property actually received for the use and lawful purpose of such corporation ; but nothing in the act contained declares that the stock itself is void...

...SERVICES—COMPENSATION. In view of Stock Corporation Law (Cousol. Laws, c, 59) | 55, providing that no corporation shall issue either stock or bonds,...money, labor done, or property actually received, an agreement between sole incorporators, made prior to organization, whereby each was to receive stock...

...Corporation Law, § 42, Laws, 1892, p. 1835. c. 688, which provides that no corporation shall issue stock except for money, labor done, or property actually received for the use and lawful purposes of the' corporation. I have not overlooked the claim advanced by the defendants, that other directors...

...the Stock Corporation Law (chapter 59, Const. Laws ; chapter 61, Laws 1909) provides that: " * * * Any corporation may purchase any property authorized...its certificate of incorporation, or necessary for tiie use and lawful purposes of such corporation, and may issue stock to ttie amount of the value thereof...