Clayton v. . Cagle
Supreme Court of North Carolina
This was a civil actiok, tried before Avery, Judge, at August Term, 1886, of Buncombe Superior Court. The case on appeal contains the following statement of facts : On April 19, 1846, James W. Patton, Charles Moore and Thomas R. Miller, contracted to sell the tract of land described in the complaint, and executed their bond to make title thereto to the Davidson River Manufacturing Company, a corporation created under a special enactment of the General Assembly, of which they…
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This was a civil actiok, tried before Avery, Judge, at August Term, 1886, of Buncombe Superior Court. The case on appeal contains the following statement of facts : On April 19, 1846, James W. Patton, Charles Moore and Thomas R. Miller, contracted to sell the tract of land described in the complaint, and executed their bond to make title thereto to the Davidson River Manufacturing Company, a corporation created under a special enactment of the General Assembly, of which they and others associated with them in the contemplated enterprise, were members. On April 3, 1851, the said Charles Moore,…
1Opinion of the Court
Smith, C. J.,
(after stating the facts). I. The deed in trust is not in form and effect that of the corporation, so as to transfer its equitable estate, arising out of the making of the title bond, to the trustee. It is the personal act of the president, its chief officer, and if effectual at all, can only pass his interest in the property. Ins. Co. v. Hicks, 3 Jones, 58; Davidson v. Alexander, 84 N. C., 621.
II. If the deed were in form a corporate act, it has not been executed bjr the company either in the manner authorized by the common law, or under the provisions of the statute then in…
2Cases cited3 opinions
- Clayton v. . RoseSupreme Court of North Carolina · 1882
- Davidson v. . AlexanderSupreme Court of North Carolina · 1881
- Bason v. King's Mountain Mining Co.Supreme Court of North Carolina · 1884
3Cited by13 opinions
- Ewing v. ShannahanSupreme Court of Missouri · 1892
- Culp v. . LeeSupreme Court of North Carolina · 1891
- Chase v. CartrightSupreme Court of Arkansas · 1890
- Carswell v. . CreswellSupreme Court of North Carolina · 1940
- Clark v. . HodgeSupreme Court of North Carolina · 1895
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