President of the Peninsular Bank v. Hanmer
Michigan Supreme Court
Error to Wayne Circuit. Hanmer sued tbe bank upon an agreement of indemnity signed by H. H. Brown, cashier of tbe bank, and sealed witb tbe corporate seal, and wbicb was in tbe following words, to wit: “ In consideration of one dollar to tbe President, Directors and Company of tbe Peninsular Bank in band paid by James Hanmer, they do hereby agree to and with said Hanmer that they will indemnify and save harmless the- said Hanmer and his assigns of and froin all loss or…
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Error to Wayne Circuit. Hanmer sued tbe bank upon an agreement of indemnity signed by H. H. Brown, cashier of tbe bank, and sealed witb tbe corporate seal, and wbicb was in tbe following words, to wit: “ In consideration of one dollar to tbe President, Directors and Company of tbe Peninsular Bank in band paid by James Hanmer, they do hereby agree to and with said Hanmer that they will indemnify and save harmless the- said Hanmer and his assigns of and froin all loss or damage by reason of or growing out of a certain mortgage heretofore made by Nathaniel P. Jacobs and wife to Chas. Seymour,…
1Opinion of the Court
Cooley J.
The action was brought by Hanmer in the Court below upon a contract executed in the name of the bank by Brown, its cashier, to indemnify Hanmer against a certain mortgage made by Nathaniel P. Jacobs and wife to Charles Seymour. The contract is under the corporate seal, but it is claimed by the bank that it was entered into without authority, inasmuch as there was no action of the directors authorizing it, and the ■by-laws required all contracts to be signed by the president. On the other hand Hanmer produced evidence that for a considerable period before and after the giving of this…
2Cases cited2 opinions
- Randall v. Van VechtenNew York Supreme Court · 1821
- Kimball v. ClevelandMichigan Supreme Court · 1857
3Cited by12 opinions
- Taylor v. . Commercial BankNew York Court of Appeals · 1903
- Journal Publishing Co. v. BarberSupreme Court of North Carolina · 1914
- Herndon v. . R. R.Supreme Court of North Carolina · 1913
- Rudasill v. . FallsSupreme Court of North Carolina · 1885
- Merrill v. WilsonMichigan Supreme Court · 1887
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