Grant County State Bank v. Northwestern Land Co.
North Dakota Supreme Court
From a judgment of the District Court of Grand Forks County, Templeton, J., plaintiff appeals. Agency to execute negotiable paper may be established in the same way as agency to do any other act. This is fixed and settled by our negotiable instrument law. The issuance of commercial paper is within the implied powers of the defendant corporation.
Read the full summary
From a judgment of the District Court of Grand Forks County, Templeton, J., plaintiff appeals. Agency to execute negotiable paper may be established in the same way as agency to do any other act. This is fixed and settled by our negotiable instrument law. The issuance of commercial paper is within the implied powers of the defendant corporation. Rev. Codes, 1905, § 6321; 10 Cyc. 1111, 1113, ¶[ 2, 1114, ¶ 3, 1115, ¶ c, 1118, subdiv. b; Martin v. Webb, 110 U. S. 7, 28 L. ed. 49, 3 Sup. Ct. Rep. 428; Ford v. Hill, 92 Wis. 188, 53 Am. St. Rep. 902, 66 N. W. 115; Swedish American Nat. Bank v.…
1Opinion of the CourtGoss, J.
This is an action at law on a promissory note of Northwest-urn Land Company. It is a renewal note of one for the same amount to said national bank as payee, and by it assigned to plaintiff as a pur■chaser in due course for full value and before maturity. The signature •of the defendant to both the original and the renewal note was affixed ■with a rubber stamp by Jones, who signed his name, so that the purported signatures read: “Northwestern Land Company, by A. H. ■Jones, Treasurer.” Jones was not treasurer, but vice president. He was also cashier of said First National Bank. The principal…
2Cases cited60 opinions
- Merchants' Bank v. State BankSupreme Court of the United States · 1871
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Aldrich v. Chemical National BankSupreme Court of the United States · 1900
- Mechanics' Bank v. Bank of ColumbiaSupreme Court of the United States · 1820
- Yates v. Jones National BankSupreme Court of the United States · 1907
55 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Meyer v. National Fire InsuranceNorth Dakota Supreme Court · 1936
- Hagel v. Buckingham Wood Products, Inc.North Dakota Supreme Court · 1977
- Lake Grocery Co. v. ChiostriNorth Dakota Supreme Court · 1916
- First National Bank v. HenryNorth Dakota Supreme Court · 1915
- Merritt v. Adams County Land & Investment Co.North Dakota Supreme Court · 1915
5 more not listed; retrieve them via the Exa API.