Tolman v. New Mexico
Supreme Court Of The Territory Of Dakota
Appeal from the district court of Custer county. The trial court found that ‘ ‘the seal of said corporation was not affixed thereto by its secretary nor by any person authorized so to do.” This is equivalent to holding that the corporation could not be bound by a contract except under its corporate seal. This seems to be a misconception of the law as settled by many eminent authorities.
Read the full summary
Appeal from the district court of Custer county. The trial court found that ‘ ‘the seal of said corporation was not affixed thereto by its secretary nor by any person authorized so to do.” This is equivalent to holding that the corporation could not be bound by a contract except under its corporate seal. This seems to be a misconception of the law as settled by many eminent authorities. The Bank of Columbia v. Patterson’s Administrator, 7 Cranch, 306; Gray v. Portland, 3 Mass. 364; Worcester Turnpike Corp. v. Willard, 5 Mass. 80; Gilmore v. Pope, Id. 491; Andover T. Co. v. Gould, 6 Mass. 40;…
1Opinion of the CourtChurch, J.
This action was brought to recover damages for an alleged breach by the defendant of a contract purporting to bind it to take from one La Barre, the plaintiff’s assignor, 2,000 shares of its own stock, held by him, at the expiration of six months from the date of the contract, and to pay him therefor three dollars per share; and it is alleged in the complaint that this contract was made in pursuance and fulfillment of a contract previously made by the company for the purchase of La Barre of an interest in a mica mine, a part of the consideration of which purchase was 2,000 shares of stock, to…
2Cases cited5 opinions
- Thomas v. Railroad Co.Supreme Court of the United States · 1880
- Davis v. Old Colony RailroadMassachusetts Supreme Judicial Court · 1881
- N.Y. State Loan and Trust Co. v. . HelmerNew York Court of Appeals · 1879
- Saint Croix Lumber Co. v. PenningtonSupreme Court Of The Territory Of Dakota · 1881
- French v. LancasterSupreme Court Of The Territory Of Dakota · 1880
3Cited by3 opinions
- Ophir Consol. Mines Co. v. BryntesonCourt of Appeals for the Seventh Circuit · 1906
- Coon v. SmithDistrict Court, E.D. Illinois · 1933
- Noyes v. WoodCourt of Appeals for the Ninth Circuit · 1917