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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1909 Excerpt:... STATE CONTROL OF FOREIGN CORPORATIONS. One of the most frequently repeated of famous obiter dicta is that of Chief Justice Taney in the case of Bank of Augusta v. Earle (13 Peters, 519-589). "It is very true, that a corporation can have no legal existence out of the boundaries of the sovereignty by which it is created. It exists only in contemplation of law, and by force of the law; and where that law ceases to operate, and is no longer obligatory, the corporation can have no existence. It must dwell in the place of its creation, and can not migrate to another sovereignty." This statement was purely obiter, for the decision, which upheld the validity of a purchase in Alabama by the agents of certain corporations of other States of bills of exchange drawn there upon payees in New York, did not necessarily involve an affirmance or denial of the power of foreign corporations to migrate, but merely of their capacity to empower agents to make purchases for them outside the States of their creation. On this point the Chief Justice said: "Now, natural persons, through the intervention of agents, are continually making contracts in countries in which they do not reside; and where they are not personally present when the contract is made; and nobody has ever doubted the validity of these agreements. And what greater objection can there be to the capacity of an artificial person, by its agents, to make a contract, within the scope of its limited powers, in a sovereignty in which it does not reside, provided such contracts are permitted to be made by them by the laws of the place?" The discussion then ran on to the question whether or not by the comity of nations, and between the States, corporations of one State were permitted to make contracts in another, and it was...