Wagner Trading Co. v. Battery Park National Bank
New York Court of Appeals
Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered May 6, 1918, unanimously affirming a judgment in favor of plaintiff entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion.
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Appeal, by permission, from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered May 6, 1918, unanimously affirming a judgment in favor of plaintiff entered upon a verdict directed by the court. The nature of the action and the facts, so far as material, are stated in the opinion. Christopher J. Wagner, as president of the plaintiff corporation and as general manager of its affairs, had implied authority to indorse and transfer its checks and give good title to his indorsees. (Howland v. Myer, 3 N. Y. 290; Hiawatha Iron Co. v. Strange Paper Co.,…
1Opinion of the CourtElkus, J.
The plaintiff is a New York corporation. It was incorporated in April, 1910, at which time it acquired all the assets and business formerly conducted by one Christopher J. Wagner, who became its president, which office he held during the time of all the transactions here in question. Wagner also acquired 180 shares of the total 400 shares of the capital stock of the Wagner Trading Company at the time of its incorporation.
Section 4 of article 3 of plaintiff’s by-laws provides:
“ The treasurer shall have the care and custody of all the funds and securities of the corporation and shall deposit…
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- Cheever v. Pittsburgh, Shenango & Lake Erie RailroadNew York Court of Appeals · 1896
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- Claflin v. Farmers' & Citizens' Bank of Long IslandNew York Court of Appeals · 1862
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