Waddill v. Ala. & Tenn. Rivers Railroad
Supreme Court of Alabama
Appeal from the Circuit Court of Dallas. Tried before the Hon. Nat. Cook. This action was brought by the appellee, a domestic corporation, against William Waddill, and was founded on a bill of exchange for $1,000, drawn by the defendant on one Abner Jones, dated the 5th March, 1853, payable on the 1st January,1854, to William E. Byrd,and endorsed by said Byrd, D. Fair, and Geo. P. Blevins; the common money counts being also added in the complaint.
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Appeal from the Circuit Court of Dallas. Tried before the Hon. Nat. Cook. This action was brought by the appellee, a domestic corporation, against William Waddill, and was founded on a bill of exchange for $1,000, drawn by the defendant on one Abner Jones, dated the 5th March, 1853, payable on the 1st January,1854, to William E. Byrd,and endorsed by said Byrd, D. Fair, and Geo. P. Blevins; the common money counts being also added in the complaint. The defendant filed five pleas, as follows: 1st, non assumpsit; 2d, “ that said bill of exchange was drawn by defendant for tlio accommodation of…
1Opinion of the CourtStone, J.
It is conceded in argument by the counsel both of appellant and appellee, that the defendant corporation had no authority to lend its money, or to em*327ploy its funds in the purchase of a bill of exchange, as an independent business transaction. This being assumed as a fact, (see ITarwood v. Humes, 9 Ala. 659 ; Drake v. Elewellen,33 Ala. 106,) it must follow as a necessary sequence, that the president of the railroad had, as such, no authority to make a loan of such funds. If, then, Mr. "Waddill, at his own instance, had the use and benefit of .funds belonging to the railroad company in the…
2Cases cited3 opinions
- Drake v. Elewellen & Co.Supreme Court of Alabama · 1858
- Upchurch v. NorsworthySupreme Court of Alabama · 1849
- Harwood's Executors v. HumesSupreme Court of Alabama · 1846
3Cited by6 opinions
- Sherwood v. AlvisSupreme Court of Alabama · 1887
- Wilks v. Georgia Pacific RailroadSupreme Court of Alabama · 1885
- Grand Lodge v. WaddillSupreme Court of Alabama · 1860
- Chambers v. FalknerSupreme Court of Alabama · 1880
- Morgan v. DonovanSupreme Court of Alabama · 1877
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