Duncan v. Maryland Savings Institution
Court of Appeals of Maryland
Appeal from Baltimore county court. This was an action of assumpsit, brought on the 22nd August 1834, by the Maryland Savings Institution against Joseph Duncan. Issue was joined on the plea of non assumpsit. 1st Exception.
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Appeal from Baltimore county court. This was an action of assumpsit, brought on the 22nd August 1834, by the Maryland Savings Institution against Joseph Duncan. Issue was joined on the plea of non assumpsit. 1st Exception. The plaintiffs to support the issue on their part offered in evidence the charter granted them by the General Assembly of Maryland, with the bye laws which they had enacted under the same, and also the supplement thereto, and the following promissory note, admitted to have been made and delivered to them by the defendant, viz: “Baltimore, July 3rd 1833. “Six months after…
1Opinion of the CourtDorsey, J.
Of the numerous questions which have been raised in this case, that which, in its proper order, first presents itself for determination, is, whether the Maryland Savings Institution has *308the power of lending any portion of its deposites, or of discounting therewith, promissory notes or other securities for debt.
As a corporation possessing no powers but those expressly or impliedly conferred on it by the enactment which brought it into being, to the terms of such enactment must we look for the outline of its powers.
The first section of the act authorises the institution to make all contracts…
2Cases cited4 opinions
- People ex rel. Attorney General v. Utica InsuranceNew York Supreme Court · 1818
- Fleckner v. President of the Bank of the United StatesSupreme Court of the United States · 1823
- Thornton v. Bank of WashingtonSupreme Court of the United States · 1830
- Warren v. PowersSupreme Court of Connecticut · 1824
3Cited by4 opinions
- State v. German Savings BankCourt of Appeals of Maryland · 1906
- United German Bank v. KatzCourt of Appeals of Maryland · 1881
- Davis v. Mutual Realty Ass'nBaltimore City Circuit Court · 1924
- United German Bank v. KatzCourt of Appeals of Maryland · 1881