First National Bank v. North Missouri Coal & Mining Co.
Supreme Court of Missouri
Error to 'Hannibal Court of Common Pleas. — Hoist J. T. Redd, Judge. (1) The defendant corporation had no authority to issue the notes sued on. Such act on its part was ultra Hires. Laws of Mo. 1863-4, 20; McCullough v. Moss, 5 Den. 569. (2) Only the directors of the defendant could make the notes, if they could be made at all. •Godfrey stood in a fiduciary relation to each company .and this totally disqualified him from acting for either. He could not deal with himself.
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Error to 'Hannibal Court of Common Pleas. — Hoist J. T. Redd, Judge. (1) The defendant corporation had no authority to issue the notes sued on. Such act on its part was ultra Hires. Laws of Mo. 1863-4, 20; McCullough v. Moss, 5 Den. 569. (2) Only the directors of the defendant could make the notes, if they could be made at all. •Godfrey stood in a fiduciary relation to each company .and this totally disqualified him from acting for either. He could not deal with himself. Gamble v. Gibson, 59 .Mo. 585; Flint & Pere Marquette Ry. Co. v. Dewey, .14 Mich. 477; People v. Township Board, 11 Id.…
1Opinion of the CourtRay, J.
— This was an action on four promissory notes, commenced in the Hannibal court of common pleas, April 18, 1874. Each of said notes was dated. July 28, 1873, due sixty days after date with interest-from date at ten per cent., payable to the Central Coal and Mining Company or order, executed by the North Missouri Coal and Mining Company, by C. O. Godfrey, president, and Edward Price, secretary, and endorsed before maturity to plaintiff by the Central Coal and Mining Company, one for $9,000, one for $2,963 and two-for $10,000 each. There was no defence to the count on the first note, and the…
2Cases cited13 opinions
- Southgate v. Atlantic & Pacific RailroadSupreme Court of Missouri · 1875
- Turner v. Chillicothe & Des Moines City RailroadSupreme Court of Missouri · 1873
- Washington Mutual Fire Insurance v. St. Mary's SeminarySupreme Court of Missouri · 1873
- Western Bank of Missouri v. GilstrapSupreme Court of Missouri · 1870
- Kiley v. ForseeSupreme Court of Missouri · 1874
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3Cited by9 opinions
- Jones v. WilliamsSupreme Court of Missouri · 1897
- Sparks v. Dispatch Transfer Co.Supreme Court of Missouri · 1891
- Moore v. H. Gaus & Sons Manufacturing Co.Supreme Court of Missouri · 1892
- Winscott v. Guarantee Investment Co.Missouri Court of Appeals · 1895
- Ferguson v. Venice Transportation Co.Missouri Court of Appeals · 1899
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