Vermont Statutes Title 5 Sec. 3426
Terms Used In Vermont Statutes Title 5 Sec. 3426
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Personal property: All property that is not real property.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 3426. Contracts between corporations; corporate property
Railroad corporations in this State may make contracts and arrangements with each other, and with railroad corporations incorporated under the laws of any other state or under the authority of the Dominion of Canada, for leasing and running the roads of the respective corporations or a part thereof by either of their respective corporations. Such railroad corporation in this State may contract for and hold in fee simple or otherwise lands or buildings in this or other states for depot purposes and storing freight and may purchase and hold such personal property as is necessary and convenient for carrying into effect the object of this section.