In the law of corporations. The right or capacity to act or be acted upon in a par- ticular manner or in respect to a particular subject; as, the power to have a corporate seal , to sue and be sued, to make by-laws, to carry on a particular business or construct a given work. See Freligh v. Saugerties, 70 Ilun, 580, 21 N. Y. Supp. 1S2; In re Lima & H. F. Ry. Co., 08 Ilun, 252, 22 N. Y. Supp. 007; Baltimore v. Marriott, 9 Md. 100.
Black’s Law Online Dictionary
