Matson v. Alley

The controversy here is, whether certain promissory notes, purporting to be executed by the Superior Nickel Works, a corporation, to Louis Ellickson, and by him assigned, before-maturity, to A. T. Bliss, and by Bliss assigned, after maturity, to Winfield N. Alley, are legal charges against the assets of the corporation in the hands of its receiver. The lower courts-adjudged that they were, and decreed their payment by the-receiver. Appellants contend that they are not, because the president and secretary of the corporation, who assumed to-execute the notes, had no authority to thereby bind…