Holden v. Hoyt
Massachusetts Supreme Judicial Court
Bill in equity, filed June 21, 1879, by the receivers of the Reading Savings Bank, against Eli W. Hoyt and Franklin Fletcher, which, as amended, alleged that, on January 19, 1872, Fletcher conveyed by mortgage deed to said bank a certain parcel of land, with the buildings thereon, situated in Reading; that said property since that date has been the property of the bank; that said property was to be sold by public auction on June 21, 1879, by virtue of a power of sale…
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Bill in equity, filed June 21, 1879, by the receivers of the Reading Savings Bank, against Eli W. Hoyt and Franklin Fletcher, which, as amended, alleged that, on January 19, 1872, Fletcher conveyed by mortgage deed to said bank a certain parcel of land, with the buildings thereon, situated in Reading; that said property since that date has been the property of the bank; that said property was to be sold by public auction on June 21, 1879, by virtue of a power of sale contained in said mortgage; that the defendant Hoyt claimed to be the assignee of said mortgage by virtue of an assignment…
1Opinion of the Court
0. Allen, J.
The defendants in this case do not rest their argument upon the ground, (which is covered by the decision in the preceding case,) that the treasurer had power to assign the note and mortgage merely by virtue of his office; but they contend that the records, containing the vote of the trustees, show full authority to make the assignment in question; that, as to third persons dealing innocently with the treasurer, the corporation is bound by its records as they stand; and that such third persons, who have invested their money on the faith of the records, ought not to suffer.
*184' In our…
2Cases cited4 opinions
- Boyce's Executors v. GrundySupreme Court of the United States · 1830
- Watson v. SutherlandSupreme Court of the United States · 1867
- Toombs v. StoneCourt of Appeals of Kentucky · 1859
- Fuller v. PercivalMassachusetts Supreme Judicial Court · 1879
3Cited by24 opinions
- Atlantic Cotton Mills v. Indian Orchard MillsMassachusetts Supreme Judicial Court · 1888
- Just v. Idaho Canal & Improvement Co.Idaho Supreme Court · 1909
- Commissioner of Banks v. Cosmopolitan Trust Co.Massachusetts Supreme Judicial Court · 1925
- City Electric Street Railway Co. v. First National Exchange BankSupreme Court of Arkansas · 1896
- Mitchell v. WeaverMassachusetts Supreme Judicial Court · 1922
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