Home Building & Loan Ass'n v. Barrett
Missouri Court of Appeals
Appeal from. Jasper Circuit Court. — Hon. David E. Blair, Judge. (1) The secretary of plaintiff building and loan association, incorporated under the laws of Missouri, cannot bind the corporation to a purchase of real estate by defendants under a private agreement between one of the defendants and such secretary that such real estate should be held by defendant for the corporation and that defendants should not be held liable on a promissory note executed by them to the…
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Appeal from. Jasper Circuit Court. — Hon. David E. Blair, Judge. (1) The secretary of plaintiff building and loan association, incorporated under the laws of Missouri, cannot bind the corporation to a purchase of real estate by defendants under a private agreement between one of the defendants and such secretary that such real estate should be held by defendant for the corporation and that defendants should not be held liable on a promissory note executed by them to the corporation for money loaned them by it, on the security of such real estate, where the corporation had no knowledge or…
1Opinion of the Court
NISON, P. J. —
This was an action for a balance due on a promissory note. The defense was “that said note was made without any consideration whatever and that there is nothing due on said note. ’ ’ The case was tried by jury, resulted in a verdict and judgment for defendants, and plaintiff has appealed.
Plaintiff is incorporated under the laws of Missouri, article 8', chapter 33, R. S. 1909', relating to building and loan'associations, which article is its constitution. Its business is under the control and management of a board of directors. Its officers are a *168president, vice-president,…
2Cases cited3 opinions
- Brookhouse v. Union Publishing Co.Supreme Court of New Hampshire · 1905
- E. C. Yarnell & Co. v. AndersonSupreme Court of Missouri · 1851
- Oil Well Supply Co. v. WolfeSupreme Court of Missouri · 1895
3Cited by4 opinions
- In Re PUGET SOUND SAVINGS & LOAN ASS’NDistrict Court, W.D. Washington · 1931
- Lawrence v. Cameron Savings and Loan AssociationSupreme Court of Missouri · 1965
- Moore v. ConoverNew Jersey Superior Court Appellate Division · 1937
- United States Building & Loan Ass'n v. FranceIdaho Supreme Court · 1937