Treasury Stock

Stock reserved at the time of organization as assets of the corporation and the stockholders to be used in furtherance of corporate purposes. In respect to mining stock it has been held to mean "such stock as is set aside for the actual development of the property." Stock which has been issued as full paid to certain stockholders and has by them been subsequently donated to the corporation to be used by it in furtherance of its purposes is often spoken of as treasury stock. Strictly speaking it is not treasury stock, however, but occupies rather the status of any other property that it may own and which it may sell or barter at any time as it would sell or barter other personal property. 5 Fletcher Cyclopedia of Corporations, 5601. with another, in cftnformity -witli law, by which it places itself ttnder an obligation. The following are not considered treaties: (1) Agreements entered into by a state with private individuals. (2) Agreements between a state and the church, and especially concordats of the different states with the pope. (3) Agreements by sovereigns or sover^ eign dynasties, whether among themselves or with foreign states, relative to their personal or dynastic pretensions to the government of a country. Glenn, Int. Law, 139; Hall, Int. Law, 323, note 1. Treaty of Alliance. One entered into by two or more states with a view of securing concerted action for the purpose designated in the treaty. Alliances may be either equal or unequal, and either offensive or defensive, or both. Davis, Int. Law, 82, note. Treaty of Guaranty. One entered into for the purpose of securing the observance of a treaty already existing, or the permanence of an existing state of affairs. The treaty of London of 1832, by which France, Great Britain, and Russia guarantied the sovereignty and independence of Greece, is an example. Treaty of Peace. A treaty of peace is an agreement or contract made by belligerent powers, in which they agree to lay down their arms, and by which they stipulate the conditions of peace and regulate the manner in which it is to be restored and supported. Vattel, bk. 4, c. 2, § 9.