Franchise

A special privilege conferred by government on individuals, and which does not belong to the citizens of the country generally by common right.

Ansell & A. Corp. § 4.

A particular privilege conferred by grant from government, and vested in individuals.

3 Kent, Comm. 458.

A branch of the king's prerogative subsisting in the hands of a subject. Finch, Law, lib.

2, c.

14; 2 Sharswood, Bl. Comm. 37. the elective franchise. And it is commonly applied to those powers exercised by virtue of a grant of privilege. "To be a corporation is a franchise. The various powers conferred on corporations are franchises. The execution of a policy of insurance by an insurance company, and the issuance of a bank note by an incorporated bank, are franchises." 15 Johns. (N. Y.) 387. "The term [franchise] must be always considered in connection with the corporation or property to which it is supposed to appertain."

93 U. S. 223.