A Treatise On the Law in Relation to Promoters And the Promotion of Corporations

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, 581, n. A.
2 3 My. & Cr. 773.
8 Greenhalgh v. Manchester, Sfc. Ry. Co. , 3 My. & Cr. 784. * 5 H. L. Cas. 605. * 3 Macq. 282.
EIGHTS AND LIABILITIES OF CORPORATION. 205 Helenslurgh? Earl of Shrewsbury v. North Staffordshire Ry. Co. 2 On the other hand, their principle was approved by Page-Wood, Y. C. , in Earl Lindsey v. Great Northern Ry. Co. ; 3 and Mr. Brice in his work on Ultra Vires, sub- mits that they still hold good, with this qualification, that it is necessary to except all engagemen
...ts which are either ultra vires the corporation, or mere bribes to secure the good will of powerful interests, neither of which can, under any circumstances, be enforced against the corporation. 4 202. Corporation may accept or adopt contracts made for it prior to its creation. While a corporation cannot, according to the weight of authority, ratify contracts made in its name or behalf before it has acquired life, it may, under what is perhaps the prevailing American doctrine, exercise its power to make contracts, when it comes into existence, by accepting or adopting such contracts.

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