Brown v. Weymouth
Supreme Judicial Court of Maine
On Facts agreed. Assumpsit, on a promissory note for one hundred dollars. At the time the note was given, defendant owed the “ Georges Canal Company” $100, for an assessment on his shares, and the company owed the plaintiff $100. The treasurer agreed with the parties, that the defendant’s debt to the company might be discharged by giving the note in suit to the plaintiff, and thereby pay to him what the company owed him.
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On Facts agreed. Assumpsit, on a promissory note for one hundred dollars. At the time the note was given, defendant owed the “ Georges Canal Company” $100, for an assessment on his shares, and the company owed the plaintiff $100. The treasurer agreed with the parties, that the defendant’s debt to the company might be discharged by giving the note in suit to the plaintiff, and thereby pay to him what the company owed him. The plaintiff took it and gave a receipt to the company for that amount of his claims against them, and the treasurer gave to defendant a receipt for what he owed the…
1Opinion of the Court
Rice, I. —
The only question in the case is, whether the treasurer had authority by virtue of his office to bind the company by the acts which he performed.
The ordinary duties of a treasurer are to receive, safely keep, and disburse under the supervision of the directors, the funds of the company.
The charter of the company, c. 564, special laws of 1839, § 10, provides “ that the property and affairs of said company shall be managed by a board of directors, not less than three aor more than seven.”
The treasurer by the charier was authorized to receive assessments due from stockholders, but he…
2Cited by2 opinions
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