Bacon v. Mississippi Insurance

Handy, J.,

delivered tbe opinion of tbe court.

Tbe appellants filed tbeir bill in tbe Superior Court of Chancery, alleging that the appellees, a company incorporated by tbe legislature of this State, were indebted to tbe Planters’ Bank of Mississippi, and on tbe 20th March, 1838, through tbeir president, that they executed tbeir note to that bank for tbe sum of $36,800, in consequence of a resolution previously passed by tbeir board in relation to tbe debt, and afterwards and on tbe 14th December, 1846, at a meeting of tbeir board, a resolution was passed authorizing tbe payment of tbe debt,…