International Harvester Co. of America v. State Bank
North Dakota Supreme Court
Action to recover upon the guaranty of a promissory note. Appeal from the District Court of McHenry County, Honorable A. G. Burr, Judge. Judgment for defendant. Plaintiff appeals. “Prima facie acts and contracts of a corporation are valid, there being no presumption of excessive power attached to them, and parties seeking to avoid such acts or contracts because they are thought to be beyond the scope of its powers must do so by an affirmative showing.”
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Action to recover upon the guaranty of a promissory note. Appeal from the District Court of McHenry County, Honorable A. G. Burr, Judge. Judgment for defendant. Plaintiff appeals. “Prima facie acts and contracts of a corporation are valid, there being no presumption of excessive power attached to them, and parties seeking to avoid such acts or contracts because they are thought to be beyond the scope of its powers must do so by an affirmative showing.” The burden is upon the atacking party. 3 Ene. Ev. 632. The contract of indorsement being in writing, consideration is presumed,- — want of…
1Opinion of the Court
Bruce, Ch. J.
This is an action on a promissory note and is brought against the Upham State Bank as an indorsee.
The defense is contained in the paragraph of the answer which alleges that it, the State Bank of Hpham, “shows to the court that the defendant corporation was not authorized by the law to guarantee the payment of any note except such notes as were the property of said defendant corporation, or such notes as were legally executed by said defendant corporation, and that if the said corporation defendant did perform or attempt to perform the acts alleged in paragraph 3 of said…
2Cases cited5 opinions
- Cook v. American Tubing & Webbing Co.Supreme Court of Rhode Island · 1906
- Thilmany v. Iowa Paper Bag Co.Supreme Court of Iowa · 1899
- Cottondale State Bank v. Oskamp Nolting Co.Supreme Court of Florida · 1912
- Seligman v. Charlottesville Nat. BankU.S. Circuit Court for the District of Western Virginia · 1879
- Oppenheim v. Simon Reigel Cigar Co.Appellate Terms of the Supreme Court of New York · 1904
3Cited by6 opinions
- Federal Deposit Ins. Corp. v. Pioneer State BankNew Jersey Superior Court Appellate Division · 1977
- American Express Co. v. Citizens State BankWisconsin Supreme Court · 1919
- Dewey Column & Monumental Works v. RyanSupreme Court of Iowa · 1928
- Dunn v. McCoyCourt of Appeals for the Third Circuit · 1940
- Dorr County State Bank v. AdamsNorth Dakota Supreme Court · 1924
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