One existing under color of law and in pursuance of an effort made in good faith to organize a corporation under the statute; an association of men claiming to be a legally incorporated company, and exercising the powers and functions of a corporation, but without actual lawful authority to do so. Foster v. Hare, 20 Tex. Civ. App. 177, 02 S. W. 541; Attorney General v. Stevens, 1 N. J. Eq. 378, 22 Am. Dec. 520; Manufacturing Co. v. Scho- field, 28 Ind. App. 95, 02 N. E. 100; Cedar Rapids Water Co. v. Cedar Rapids, 118 Iowa, 234, 91 N. W. 1081; Johnson v. Okerstrom, 70 Minn. 303, 73 N. W. 147; Tulare Irrig. Dist. v. Shepard, 185 U. S. 1, 22 Sup. Ct. 531, 46 L. Ed. 773; In re Gibbs’ Estate, 157 Pa. 59, 27 Atl. 383, 22 L. R. A. 276; Pape v. Bank, 20 Kan. 440, 27 Am. Rep. 183.

More On This Topic

Link to This Definition
Did you find this definition of CORPORATION DE FACTO helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary