Lovett v. Steam Saw Mill Ass'n
New York Court of Chancery
This was an appeal from a decree of the vice chancellor of the fourth circuit. The complainant’s bill was filed for the purpose of foreclosing two mortgages, given by The Steam Saw Mill Association to the complainant; and certain judgment creditors, and other subsequent incumbrancers upon the mortgaged premises, were made defendants. The bill was taken as confessed against all the defendants except the corporation.
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This was an appeal from a decree of the vice chancellor of the fourth circuit. The complainant’s bill was filed for the purpose of foreclosing two mortgages, given by The Steam Saw Mill Association to the complainant; and certain judgment creditors, and other subsequent incumbrancers upon the mortgaged premises, were made defendants. The bill was taken as confessed against all the defendants except the corporation. The Steam Saw Mill Association put in an answer, under their common seal, by which they admitted that their president affixed the common seal of the corporation to the bonds and…
1Opinion of the Court
The following opinion was delivered by the vice chancellor, at the time of making the decretal order appealed from :
E. Cowen, V. C.
The execution of the mortgages is admitted in this case ; that is to say, the answer admits that Bailey, the president, affixed the seal of the corporation. This also appears by his deposition, taken on the part of the defendants, and he supposed that he acted under the proper authority in so doing. This is abundant proof that the mortgages were executed by the company. Proof that the common seal was affixed, by no matter whom, is enough; (1 Kyd on Corporations,…
2Cases cited1 opinion
- Haight v. Morris AqueductU.S. Circuit Court for the District of New Jersey · 1826
3Cited by39 opinions
- Miners' Ditch Co. v. ZellerbachCalifornia Supreme Court · 1869
- People's Bank v. St. Anthony's Roman Catholic ChurchNew York Court of Appeals · 1888
- New England Iron Co. v. Gilbert (Metropolitan) Elevated RailroadNew York Court of Appeals · 1883
- Lamb v. CecilWest Virginia Supreme Court · 1884
- Big Vein Pocahontas Co. v. BrowningSupreme Court of Virginia · 1923
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