Franklin Bank v. Cooper
Supreme Judicial Court of Maine
On Report, from Nisi Prius, Wells, J., presiding. Action op Debt, brought Sept. 13, 1850, upon the official bond of Hiram Stevens, who had been for many years the plaintiffs’ cashier. It was dated Oct. 1, 1847, and was signed by the defendant’s testator as one. of the sureties. When presented in Court the following words were found indorsed upon it, viz. — “Approved by vote of directors October 11, 1847, J. Otis, President.”
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On Report, from Nisi Prius, Wells, J., presiding. Action op Debt, brought Sept. 13, 1850, upon the official bond of Hiram Stevens, who had been for many years the plaintiffs’ cashier. It was dated Oct. 1, 1847, and was signed by the defendant’s testator as one. of the sureties. When presented in Court the following words were found indorsed upon it, viz. — “Approved by vote of directors October 11, 1847, J. Otis, President.” Its condition was that “ whereas said Stevens has been appointed cashier, &c., now if he shall during his continuance in office as cashier, truly and faithfully perform…
1Opinion of the Court
Shepley, C. J. —
This suit was commenced on September *19013, 1850, upon a bond made to the bank by Hiram Stevens as principal, and the defendant’s testator and others, as his sureties, to secute his faithful performance of, the duties of cashier, and other duties.
1. Whether the action can be maintained may depend upon a construction of the Act approved on June 9, 1849, c. 196. By the first section the corporate capacity of the bank is continued for two years from the first day of October then next, for the sole purpose of collecting the debts due to the corporation. The stockholders are authorized…
2Cited by28 opinions
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- Eau Claire Canning Co. v. Western Brokerage Co.Illinois Supreme Court · 1905
- Fassnacht v. Emsing Gagen Co.Indiana Court of Appeals · 1897
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