What is BORROWED CAPITAL? Definition of BORROWED CAPITAL in Black's Law Dictionary
Moneys due by corporation to another corporation used as its capital. State v. Banana Selling Co., 185 La. 668, 170 So. 30, 32.
Amount standing on books to personal credit of stockholders credited without restriction or limitation on stockholders as to manner or time of payment to them of respective accounts. Weed & Bro. v. U. S., Ct.C1., 38 F.2d 935, 940. Dividends declared by corporation but not paid during taxable year. Bulger Block Coal Co. v. U. S., Ct.Ci., 48 F.2d 675, 677; Southport Mill v. Commissioner of Internal Revenue, C.C.A.La., 26 F.2d 17. Payment of losses sustained by corporation by its principal stockholder. State v. Mayer Sugar & Molasses Co., 204 La. 742, 16 So.2d 251, 253.
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BORROWED MONEY OR PROPERTY
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That's the definition of BORROWED CAPITAL in Black's Law Dictionary - Courtesy of Cekhukum.com.
