First National Bank v. State Bank
North Dakota Supreme Court
Appeal from District Court, Grand Forks count}'; Fisk, J. Action by the First National Bank of Portage against the State Bank of Northwood and another. Judgment for -plaintiff and defendants appeal. President or cashier of a state bank cannot bind it for a loan unless authorized thereto by its directors. First National Bank of Corunna v. Michigan City Bank, 8 N. D. 608, 80 N. W. 776; Florida Cent.
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Appeal from District Court, Grand Forks count}'; Fisk, J. Action by the First National Bank of Portage against the State Bank of Northwood and another. Judgment for -plaintiff and defendants appeal. President or cashier of a state bank cannot bind it for a loan unless authorized thereto by its directors. First National Bank of Corunna v. Michigan City Bank, 8 N. D. 608, 80 N. W. 776; Florida Cent. R. R. Co. v. Schutte, 103 U. S. 118, 26 L. Ed. 327; Brown v. Chicago & N. W. Ry. Co., 78 N. W. 771; Eau Claire National Bank v. Benson, 82 N. W. 604. Such president or cashier of a state bank cannot…
1Opinion of the CourtEngerud, J.
This action is before us for trial anew of all the issues. Defendants, the State Bank of Northwood and Samuel Loe, receiver of said bank', are the appellants. The State Bank of Northwood, which we shall hereafter refer to as the “North-wood Bank,” is a banking corporation organized under the laws of this state. It became insolvent, and Mr. Loe is the receiver placed in charge of its affairs. The bank’s doors were closed, and the receiver placed in charge thereof, in July, 1901. The plaintiff, which we shall refer to as the “Portage Bank,” is a national bank at Portage, Wis. It alleges that on…
2Cases cited3 opinions
- Hanover Nat. Bank of New York v. First Nat. Bank of BurlingameCourt of Appeals for the Eighth Circuit · 1901
- Mercantile Nat. Bank of Cleveland v. LanderU.S. Circuit Court for the District of Northern Ohio · 1901
- First National Bank v. ArnoldIndiana Supreme Court · 1901
3Cited by12 opinions
- Third National Bank v. St. Charles Savings BankSupreme Court of Missouri · 1912
- Central Metropolitan Bank v. Chippewa County State BankSupreme Court of Minnesota · 1924
- Schneider v. ThompsonCourt of Appeals for the Eighth Circuit · 1932
- Grant County State Bank v. Northwestern Land Co.North Dakota Supreme Court · 1914
- Baird v. ChambersNorth Dakota Supreme Court · 1906
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