Mullen v. Eastern Trust & Banking Co.
Supreme Judicial Court of Maine
On report. Action of deceit against the defendant corporation, the trustee in a certain trust mortgage given to it by the Ounegan Woolen Company, a corporation, for falsely certifying certain bonds, purporting to have been issued by said Woolen Company, as secured by said mortgage.
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On report. Action of deceit against the defendant corporation, the trustee in a certain trust mortgage given to it by the Ounegan Woolen Company, a corporation, for falsely certifying certain bonds, purporting to have been issued by said Woolen Company, as secured by said mortgage. Plea, the general issue with brief statement alleging as follows: "1. That it never declared to the plaintiff nor to any one representing her, that it was the owner or holder of the two bonds referred to in plaintiff’s writ and which plaintiff declares were purchased by her of said defendant, and that it did not…
1Opinion of the CourtCornish, J.
Action of deceit against the defendant, the trustee in a certain trust mortgage, for falsely certifying certain bonds as secured thereby.
*500This raises the question, novel in this state, as to the legal liability of a banking corporation in certifying trust bonds.
It appears in the case at bar, that the stockholders of the Ounegan Woolen Company on August 3, 1899, voted to authorize the directors "to raise funds for the use of the Company by the issue of bonds to an amount not exceeding fifty thousand dollars, to be secured by mortgage upon the mill property of the Company, the rate, time and all…
2Cases cited3 opinions
- Whiting v. PriceMassachusetts Supreme Judicial Court · 1898
- Bauernschmidt v. Maryland Trust Co.Court of Appeals of Maryland · 1899
- Tschetinian v. . City Trust Co.New York Court of Appeals · 1906
3Cited by11 opinions
- Martens Chevrolet, Inc. v. SeneyCourt of Appeals of Maryland · 1982
- Dehahn v. InnesSupreme Judicial Court of Maine · 1976
- Doyle v. Chatham & Phenix National BankNew York Court of Appeals · 1930
- Ainsa v. Mercantile Trust Co.California Supreme Court · 1917
- Wendward Corp. v. Group Design, Inc.Supreme Judicial Court of Maine · 1981
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