Illinois Building Co. v. Guardian Trust Co.

Plaintiff sued defendant to recover $1,962, the amount claimed to be due under a lease entered into between plaintiff’s predecessor and defendant’s assignor. The district court held that the defendant was not liable because the acts of its officers were ultra vires and was not estopped to deny liability. A review of this judgment is here sought.

On December 2, 1919, Morris Beichman leased from the Hitchings-Van Schaack Investment Company, at a monthly rental of $250 a month, the cigar stand privileges in the United States National Bank building in Denver. The defendant loaned Beichman money…