corporate franchise
Defined in 2 dictionaries — Case Law, Black's (1910)
Definitions from Case Law
From 285 U.S. 480 - Pacific Co. v. Johnson · 1932Most cited · 234 citing opinions
the franchise, the privilege of doing business in corporate form, which is a legitimate subject of taxation, does not cease to be such because it is exercised in the acquisition and enjoyment of nontaxables
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The right to exist and do business as a corporation ; the right or privilege granted by the state or government to the persons forming an aggregate private corporation, and their successors, to exist and do business as a corporation and to exercise the rights and powers incidental to that form of organization or necessarily implied in the grant. Bank of California v. San Francisco, 142 Cal. 276, 75 Pac. 832. 64 L. R. A. 918, 100 Am. St Rep. 130; Jersey City Gaslight Co., v. United Gas Imp. Co. (C. Ct) 46 Fed. 264; Co.bb v. Durham County, 122 N. C. 307, 30 S. E. 338; People v. Knight, 174 N. Y. 475, 07 N. E. 65, 63 L. In A. 87.
Defined under Corporate in Black's Law Dictionary.