Sylvester Watts Smyth Realty Co. v. American Surety Co.
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. —Hon. J. Hugo Grimm, Judge. - (1) Marsix Company acquired no power under its charter to enter into said contract of lease with plaintiff for the term of ninety-nine years, and for the erection of the buildings on the demised premises, as provided in said lease, or to execute the bond in suit; and said contract of lease and bond was ultra vires of its corporate powers.
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Appeal from St. Louis City Circuit Court. —Hon. J. Hugo Grimm, Judge. - (1) Marsix Company acquired no power under its charter to enter into said contract of lease with plaintiff for the term of ninety-nine years, and for the erection of the buildings on the demised premises, as provided in said lease, or to execute the bond in suit; and said contract of lease and bond was ultra vires of its corporate powers. Sees. 2872, 2990, 3021, 3346, R. S. 1909; Sec. 5, chap. 32, R. S. 1855; Sec. 7, art. 12, Mo. Const.; Prairie Club v. Kessler, 252 Mo. 435; Comm. v. Property Co., 139 Ky. 689; School…
1Opinion of the Court
This is a suit on a bond given to insure the performance of certain covenants of a lease on the part of the lessee. Plaintiff, the obligee in the bond, was incorporated under the laws of this State April 5, 1905, for the purpose, according to its articles of association, of "purchasing, owning and renting buildings and other property in this State and elsewhere, now owned or acquired by it; and to sell or exchange such property." Defendant, Marsix Realty and Construction Company, the principal obligor, was also a Missouri corporation, having received its certificate of incorporation May 3,…
2Cases cited13 opinions
- National Bank v. Texas Investment Co.Texas Supreme Court · 1889
- Louisville School Board v. KingCourt of Appeals of Kentucky · 1908
- Cahall v. Citizens Mutual Building Ass'nSupreme Court of Alabama · 1878
- Abby v. BillupsMississippi Supreme Court · 1858
- Starke, Guardian v. Guffey Petroleum Co.Texas Supreme Court · 1905
8 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Commonwealth v. Monumental Properties, Inc.Supreme Court of Pennsylvania · 1974
- Wilt v. WaterfieldSupreme Court of Missouri · 1954
- Coates & Hopkins Realty Co. v. Kansas City Terminal Railway Co.Supreme Court of Missouri · 1931
- Jennings v. First National Bank of Kansas CityMissouri Court of Appeals · 1930
- Monsanto Company v. Homan McFarlingCourt of Appeals for the Federal Circuit · 2004
6 more not listed; retrieve them via the Exa API.