CORPORATIONS - CAPITAL, CAPITAL STOCK AND STOCK

Authors

Frederick K. Brown, University of Michigan Law School

Abstract

The recent case of Haggard v. Lexington Utilities Co. is typical of the nominalistic confusion occasioned by the use of the terms "capital" and "capital stock." Whatever progress the courts have made toward making them words of precise signification has not been reflected in the drafting of statutes, where they are employed to represent a bewildering number of connotations. The courts have recognized this and have not sought to make them words of art with a single, definitive meaning but through the mechanics of statutory interpretation have sought to divine the legislative intent.

Recommended Citation

Frederick K. Brown, CORPORATIONS - CAPITAL, CAPITAL STOCK AND STOCK, 35 Mich. L. Rev. 283 (1936).
Available at: https://repository.law.umich.edu/mlr/vol35/iss2/5