Franklin Bank v. Steward
Supreme Judicial Court of Maine
On Report from Nisi Prius, Wells, J., presiding. Assumpsit on a note to the plaintiffs, dated Dec. 16, 1845, for $350, payable in ninety days from date, and signed by David C. Dinsmore as principal, and by Stephen Webber and James Steward as sureties. The general issue was pleaded and joined. The plaintiffs read in evidence the note declared on. The defence set up was that the note had been paid.
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On Report from Nisi Prius, Wells, J., presiding. Assumpsit on a note to the plaintiffs, dated Dec. 16, 1845, for $350, payable in ninety days from date, and signed by David C. Dinsmore as principal, and by Stephen Webber and James Steward as sureties. The general issue was pleaded and joined. The plaintiffs read in evidence the note declared on. The defence set up was that the note had been paid. To prove such payment, among other witnesses, the defendants called John Frost, who testified that, in the spring of 1846, after the ice broke up in the Kennebec river, he, at the request of Steward,…
1Opinion of the CourtShepley, C. J.
— The question presented is, whether a declaration of the cashier of the bank, that the note had been paid, was properly admitted as evidence.
The powers and duties of the officers of corporations are usually determined by their charters and by-laws, and by the laws of the State. Many of the powers and duties of the officers of banks are so determined in this State. Their general management is committed to a board of directors, who are the general agents of their respective banks, and who appoint their cashiers. The laws of the State require the cashiers to perform certain duties, and that…
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