Jackson v. South Omaha Live Stock Exchange
Nebraska Supreme Court
Appeal from the district court of Douglas county.. Heard below before Walton, J. The exchange has no authority to fine, suspend, or expel a member. Its charter confers no such authority. The charter of a corporation is the measure of its powers, and the enumeration of those powers implies the exclusion of all others. Such powers cannot, therefore, be extended by by-laws.
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Appeal from the district court of Douglas county.. Heard below before Walton, J. The exchange has no authority to fine, suspend, or expel a member. Its charter confers no such authority. The charter of a corporation is the measure of its powers, and the enumeration of those powers implies the exclusion of all others. Such powers cannot, therefore, be extended by by-laws. A by-law is void where it is contrary to the common law, to a legislative enactment, or to the state or federal constitution. (State v. Atchison ct N. R. Co., 24 Neb., 144; People v. Chicago Gas Trust Co., 130 111., 268; Hood…
1Opinion of the Court
Ryan, O.
Plaintiffs, who constitute the firm of Jackson, Higgins & Co., brought this action in the district court of Douglas county against the South Omaha Live Stock Exchange, a corporation, which, with its officers, were made defendants, to enjoin the collection of a fine of $250 assessed *691against said Jackson, Higgins & Co. for the violation of certain rules of said corporation, of which corporation the individuals composing the firm of Jackson, Higgins & Co. were members. There was a decree denying the injunction prayed, and plaintiffs in this action have appealed.
The grounds on which…
2Cases cited2 opinions
- Pounder v. AsheNebraska Supreme Court · 1895
- Powers v. BudyNebraska Supreme Court · 1895
3Cited by2 opinions
- Crisler v. CrumNebraska Supreme Court · 1927
- Ihnen v. South Omaha Live Stock ExchangeNebraska Supreme Court · 1917