Tracy v. Guthrie County Agricultural Society
Supreme Court of Iowa
Appeal from Guthrie Cwcuit Court. On the 20th day of April, 1876, plaintiff commenced an action upon a promissory note, and for the foreclosure of a mortgage executed to secure it.
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Appeal from Guthrie Cwcuit Court. On the 20th day of April, 1876, plaintiff commenced an action upon a promissory note, and for the foreclosure of a mortgage executed to secure it. The note is as follows: “Guthrie Center, Iowa, April 16, 1875. On or before January 15, 1878, for value received, the Guthrie County Agricultural Society agrees to pay William Tracy six hundred and forty dollars, with ten per cent, interest, payable annually, and if it becomes necessary to collect this note by suit, it is agreed that a reasonable amount shall be allowed as attorney’s fees. IRA P. WETMORE, Pres’t…
1Opinion of the Court
Day, Oh. J.
x. coraxoitAof°offleers!eis I. The evidence shows that the seven acres conveyed to plaintiff were owned by an old agricultural society, ox-ganized in 1858, and whose organization expired in 1868. There is no proof that the defendant succeeded to the rights of property of this old society. The defendant was organized on the 20th day of June, 1871. Its articles of incorporation provide that it “may acquire and hold all property necessary for the convenience and success of the society.” Articles 2 and 4 of the articles of incorporation are as follows: “The officers of this society…
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