Fink v. Canyon Road Co.
Oregon Supreme Court
Appeal from Douglas County. The complaint alleges that the Canyon Road Company is a private corporation; that on November 9, 1868, it was indebted to one Rose in the sum of fifty dollars coin, and by its secretary, duly authorized thereto, drew its draft. or order in writing, directed to its treasurer, in favor of said Rose, or bearer, for fifty dollars; that said draft or order was duly delivered to Rose, who, for a value, afterwards transferred and delivered it to Fink,…
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Appeal from Douglas County. The complaint alleges that the Canyon Road Company is a private corporation; that on November 9, 1868, it was indebted to one Rose in the sum of fifty dollars coin, and by its secretary, duly authorized thereto, drew its draft. or order in writing, directed to its treasurer, in favor of said Rose, or bearer, for fifty dollars; that said draft or order was duly delivered to Rose, who, for a value, afterwards transferred and delivered it to Fink, who is now the owner and holder thereof; that said draft was duly presented to said treasurer and by him indorsed, “Not…
1Opinion of the Court
By the Court,
McArthur, J.:
The instruments declared on are orders by the company on itself—mere directions to its treasurer to pay the amounts indicated to the bearer. -In legal effect they are the promissory notes of the company. (Fairchild v. O. C. & R. R. Co., 15 N. Y. 337.)
We cannot adopt.the views of appellant’s counsel and decide the issuance of instruments of this character, by the company, ultra vires, because in issuing them the company exercised incidental powers which are within, or rather grow out of the general powers of corporations of this class. The .doctrine of Clark v. Des…
2Cases cited11 opinions
- McCullough v. MossCourt for the Trial of Impeachments and Correction of Errors · 1846
- Mott v. HicksNew York Supreme Court · 1823
- Fister v. La RueNew York Supreme Court · 1853
- Attorney General v. Life & Fire InsuranceNew York Court of Chancery · 1842
- Adriance v. RoomNew York Supreme Court · 1868
6 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Maeder Steel Products Co. v. ZanelloOregon Supreme Court · 1923
- Siverson v. ClantonOregon Supreme Court · 1918
- Luse v. Isthmus Transit Railway Co.Oregon Supreme Court · 1876
- Miller v. Head CampOregon Supreme Court · 1904
- Drainage Dist. No. 4 v. CrowOregon Supreme Court · 1891
6 more not listed; retrieve them via the Exa API.