Wray v. Tuskegee Insurance
Supreme Court of Alabama
Appeal from the Circuit Court of Macon. Tried before tbe Hon. S. D. Hale. This action wTas brought by the Tuslkegee Insurance Company, a corporation chartered by the legislature of this State, (Session Acts 1855-6, p. 257,) against Albert G-. “Wray, and was founded on the defendant’s bill of exchange for $1828 80, dated the 17th April, 1857, addressed to one Joseph A. Jones, payable thirty days after date to the defendant’s own order, and endorsed to plaintiff.
Read the full summary
Appeal from the Circuit Court of Macon. Tried before tbe Hon. S. D. Hale. This action wTas brought by the Tuslkegee Insurance Company, a corporation chartered by the legislature of this State, (Session Acts 1855-6, p. 257,) against Albert G-. “Wray, and was founded on the defendant’s bill of exchange for $1828 80, dated the 17th April, 1857, addressed to one Joseph A. Jones, payable thirty days after date to the defendant’s own order, and endorsed to plaintiff. The defendant interposed two pleas in bar of the action, which were as follows: “ 1. Defendant says actio non, because he says that,…
1Opinion of the CourtA. J. Walker, C. J.
The material question presented by the demurrer to the first plea, is, whether the facts stated in that plea show that the bill of exchange sued upon was given for an illegal consideration. The power' of the corporation to discount the bill is not disputable, because by its charter it has express authority “to purchase, discount, and sell bills of exchange.” Acts of ’55 and ’56, page 259.
Section 939 of the Code prohibits a foreign corporation, invested with the privilege of. banking, from exercising that privilege by agent in this State, exeept by the *63exclusive use of gold and silver coin,…
2Cases cited1 opinion
- CRAIG v. the State of MissouriSupreme Court of the United States · 1830
3Cited by10 opinions
- Wood v. American National BankSupreme Court of Virginia · 1902
- State ex rel. First National Bank v. BartleyNebraska Supreme Court · 1894
- Anheuser-Busch Brewing Ass'n v. ClaytonCourt of Appeals for the Fifth Circuit · 1893
- Wright v. PaineSupreme Court of Alabama · 1878
- National Surety Co. v. StateSupreme Court of Alabama · 1929
5 more not listed; retrieve them via the Exa API.