Town of Klamath Falls v. Sachs
Oregon Supreme Court
From Klamath : Hiero K. Hanna, Judge. This is a suit by the Town of Klamath Falls to enjoin the prosecution of an action commenced by Lipman Sachs against the plaintiff herein to recover upon two coupons for interest payments upon two certain bonds purporting to have been issued by it to H. V. Gates, to restrain the collection of such coupons, and to have the bonds themselves declared null and void.
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From Klamath : Hiero K. Hanna, Judge. This is a suit by the Town of Klamath Falls to enjoin the prosecution of an action commenced by Lipman Sachs against the plaintiff herein to recover upon two coupons for interest payments upon two certain bonds purporting to have been issued by it to H. V. Gates, to restrain the collection of such coupons, and to have the bonds themselves declared null and void. The bonds to which the coupons are attached are in form as follows: “For value received, the Town of Klamath Falls, in the County of Klamath, State of Oregon, promises to pay to the bearer at the…
1Opinion of the CourtChief Justice Wolverton
It is alleged that at the date of the signing and sealing of said bonds they were delivered to the defendant E. R. Reames (who was then a member of the board of trustees of the town, and a stockholder in the Klamath Falls Light & Water Company), in trust, to carry out the provisions of said Ordinance No. 46, and not otherwise; that neither Gates nor his assigns ever became entitled, under the provisions of said ordinance, to receive said bonds, and that the delivery thereof to Gates was unauthorized by any act of said board. At the trial, however, it was admitted in open court that they were…
2Cases cited12 opinions
- Dixon County v. FieldSupreme Court of the United States · 1884
- Town of Coloma v. EavesSupreme Court of the United States · 1876
- Merrill v. MonticelloSupreme Court of the United States · 1891
- Brenham v. German American BankSupreme Court of the United States · 1892
- Ashley v. Board of SupervisorsCourt of Appeals for the Sixth Circuit · 1893
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3Cited by7 opinions
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- Keck v. Yakima Savings & Loan Ass'nWashington Supreme Court · 1931
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