Summary

Horace Gray Close v. Glenwood Cemetery — Opinion of the Court

One who deals with a corporation as existing in fact, is estopped to deny as against the corporation that it has been legally organized. And in a court of equity, at least, the owner of land, who stands by and sees it conveyed as belonging to another, cannot afterwards set up his own title against the grantee. The present case is yet stronger. Close did not merely deal with the corporation, and permit the corporation to convey parts of his land to purchasers of lots.
Source: Wikisource

Horace Gray Close v. Glenwood Cemetery — Opinion of the Court

If the corporation were to be exclusively a private business corporation, created for the sole benefit of the original associates and their successors as holders of shares, congress would hardly have inserted in the charter the provision authorizing the corporation to receive gifts and bequests for the purpose of ornamenting and improving the cemetery, or the provisions exempting the property from all taxation, and prohibiting the future laying out of any public ways through it.
Source: Wikisource

Horace Gray Close v. Glenwood Cemetery — Opinion of the Court

When the lots were all sold, the pecuniary interest of the associates or shareholders would disappear, but the duty to keep up the cemetery would remain, and the owners of lots would be the only persons having a peculiar interest in keeping it up. The corporation, in short, was established to secure and maintain, not merely the right of sale, but the right of burial, and was the representative, not only of the original proprietors of the land, but also of the subsequent purchasers of lots therein.
Source: Wikisource

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