Title: American and Foreign Stock Exchange Practice, Stock and Bond Trading, and the Business Corporation Laws of All Nations, Together With Local Regulations, Laws, Fees and Taxes Affecting American Firms and Corporations Carrying on Business in Any Other States of the U.s.a., or Establishing Branches or Agencies in Foreign Countries General Books publication date: 2009 Original publication date: 1921 Original Publisher: Financial books company Subjects: Stock exchanges Commercial law Securities Stock exchange Notes: This is a black and white OCR reprint of the original. It has no illustrations and there may be typos or missing text. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. Excerpt: Introduction to Summary of Business Corporation Laws of all American States Carrying on Business – Definition A Corporation formed under the laws of a State is a domestic corporation in that State. In all other States of the U. S. A. it would be a foreign corporation. It is generally agreed that carrying on business in a State is the keeping of a place of business there for the special purpose of selling and distributing goods, or for taking firm orders which do not require further confirmation in order to be valid contracts. Firms and corporations are hot subject to the laws applying to foreign corporations if they (1) have no established place of business in a State, (2) have their head offices in other States, and (3) the orders taken for them within the State are subject to acceptance or rejection outside of the State where taken. At the end of this section examples are given of legal decisions as to what does, and what does not, amount to the carrying on of business within a State. The taking of orders by travellers or agents, for a foreign corporation, is not carrying on a business in a State, provided that the orders require the approval o…