Ballston Spa Bank v. Marine Bank
Wisconsin Supreme Court
APPEAL from the County Court for Milwaukee County. This action was brought against the Marine Bank of Milwaukee as maker, and Hoover & Medbury as indorsers of two notes, one of $5,000 and the other of $4,000, to recover the amount thereof with interest. The notes were made on the 16th day of October and the 80th day of November, 1858, respectively, and signed by the cashier of the Marine Bank, and made payable to Hoover & Medbury who endorsed the same to the plaintiff.
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APPEAL from the County Court for Milwaukee County. This action was brought against the Marine Bank of Milwaukee as maker, and Hoover & Medbury as indorsers of two notes, one of $5,000 and the other of $4,000, to recover the amount thereof with interest. The notes were made on the 16th day of October and the 80th day of November, 1858, respectively, and signed by the cashier of the Marine Bank, and made payable to Hoover & Medbury who endorsed the same to the plaintiff. It was alleged that the plaintiff was a banking corporation, organized under and by virtue of tbe laws of tbe state of New…
1Opinion of the Court
By the Court,
Dixon, C. J.
It was competent for the cashier, as agent for the board of directors, to execute the promissory notes in question, and bind the bank by such execution. Rockwsll v. Elkhorn Bank, 13 Wis., 653. Whether then the cashier has prima facie authority by virtue of his office, or. whether absolute, or whether still, the party seeking to charge the bank through his act, must give evidence that he was expressly authorized by the board of directors, we need not now inquire. A subsequent ratification is equivalent to a previous expresss authority. Such ratification may be by mere…
2Cases cited3 opinions
- State v. JohnstonTennessee Supreme Court · 1847
- Coates v. SangstonCourt of Appeals of Maryland · 1853
- Rockwell v. Elkhorn BankWisconsin Supreme Court · 1860
3Cited by25 opinions
- Hubbard v. MarshallWisconsin Supreme Court · 1880
- Welz v. RhodiusIndiana Supreme Court · 1882
- Ashton v. IngleSupreme Court of Kansas · 1878
- Liebscher v. KrausWisconsin Supreme Court · 1889
- Hei v. HellerWisconsin Supreme Court · 1881
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