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567, 569 Fletcher Cyc Corp, 1961 ed, § 7155, since Fluid Power would be estopped to deny the validity of its own acts by challenging their de jure character, Fletcher, supra, §§ 3889, 3926, even though it be a foreign corporation and the absorbed or merged entity have previously existed under Illinois law, 36 Am Jur2d, Foreign Corporations, § 394 Racine M.R. Ashling, supra Chicago Western Indiana R. They point out that whether there was a strict compliance with the law respecting corporate mergers is of no consequence, when the result is a de facto merger, Chicago, S.F. In support of such theory they have cited the applicable merger section of the Business Corporation Act (Ill Rev Stats, c 32, §§ 157.61 and 157.69a) and Fletcher Cyc Corp, 1961 ed, § 7082 19 Am Jur 2d, Corporations, § 1492 Chicago, S.F. Plaintiffs have urged that since Fluid Power purchased all of Piasa's capital stock, occupied Piasa's premises, carried on its business and advertised that Piasa had become a division of Fluid Power, and then caused Piasa to be dissolved, remaining itself as a viable entity, that a merger of the companies was effected, with Fluid Power the surviving corporation.That the lease was not terminated by the dissolution of the corporate lessee is made quite clear in the annotation found in 147 ALR 360-372 that annotation makes it equally clear that the successor to the dissolved corporation who accepts the lease of the dissolved corporation as a valuable asset and accepts the benefits, steps into the shoes of the corporate lessee with the same rights and liabilities in respect to the lease as attached to the original corporate lessee. Under such circumstances defendant assumed and became responsible for the lessee's obligation under the lease. Here defendant, the single stockholder, obviously considered the lease a valuable asset, keeping it in effect by the continuing occupation of the premises and performing its covenants as performance became due, thus accepting the rights and benefits provided by the lease.
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We find no evidence of record that the obligations of the lease had been discharged or that adequate provision had been made for them. We find subsections (c) and (d) applicable to the present situation. "(e) That there are no suits pending against the corporation in any court, or that adequate provision has been made for the satisfaction of any judgment, order, or decree which may be entered against it in any pending suit." "(d) That all the remaining property and assets of the corporation have been distributed among its shareholders in accordance with their respective rights and interest. "(c) That all debts, obligations and liabilities of the corporation have been paid and discharged or that adequate provision has been made therefor. "(b) That the corporation has theretofore filed with the Secretary of State and with the recorder of deeds of the county in which the registered office of the corporation is situated, a statement of intent to dissolve, and the date on which such statement was filed by the Secretary of State.
#Fluid app rent trial#
The trial court entered judgment for the plaintiffs and against the defendant for $28,450 based upon the finding of rentals due in the amount of $26,950 and damages in the amount of $1,500.“It’s especially heartening to see two Colorado companies pioneering a thoughtful and innovative transportation solution,” said Betsy Markey, executive director of Colorado Office of Economic Development and International Trade. Jared Polis signed an executive order to support the state’s transition to zero-emission vehicles.
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“This is an exciting opportunity for both companies due to the rising demand for electric vehicles from commercial customers who have sustainability requirements for their fleets,” Lightning CEO Tim Reeser said in a release.Įarly in his term in 2019, Colorado Gov. #ThrowbackThursday to last Thursday, when we announced that a national truck rental platform, will incorporate 600 of our Lightning⚡️Electric vehicles onto their app! via #ElectricVehicles #Trucks #Vans /v51wUzvR21 The all-electric, zero-emission vehicles will be deployed in major urban areas across the United States, according to Loveland, Colo.-based Lightning. The order with Lightning involves an assortment of Lightning Electric Ford Transit 350HD delivery vans, Lightning Electric Ford E-450 Class 4 trucks, and Lightning Electric Hino 268 Class 6 trucks. Denver-based Fluid Truck is a technology-based truck rental platform founded in 2018 that enables small and midsized businesses, as well as consumers, to rent commercial vehicles in only a few minutes with their mobile device - all day, every day of the year.