Fairfield Savings Bank v. Chase
Supreme Judicial Court of Maine
ON EXCEPTIONS. Writ of entry to recover possession of a certain parcel of land, described in a mortgage from John W. Chase to the plaintiff corporation, dated the tenth day of March, 1876, and duly recorded on that day. The defendant seasonably disclaimed as to one undivided half of the demanded premises, but claimed title to the other undivided half. The plea was the general issue as to the undivided half claimed by the defendant.
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ON EXCEPTIONS. Writ of entry to recover possession of a certain parcel of land, described in a mortgage from John W. Chase to the plaintiff corporation, dated the tenth day of March, 1876, and duly recorded on that day. The defendant seasonably disclaimed as to one undivided half of the demanded premises, but claimed title to the other undivided half. The plea was the general issue as to the undivided half claimed by the defendant. The defendant based his claim to one undivided half upon a deed from John W. Chase to him, dated the eighth day of March, 1876, but not recorded till the…
1Opinion of the CourtPeters, J.
A notice to a bank director or trustee, or knowledge obtained by him, while not engaged either officially or as an agent or attorney in the business of the bank, is inoperative as a notice to the bank. If otherwise, corporations would incur the same liability for the unofficial acts of directors that partnerships do for the acts of partners; and corporate business would be subjected oftentimes to extraordinary confusion and hazards. Carry the proposition, that notice to a director is notice to tho* bank, to its logical sequence, and a corporation might be made responsible for all the frauds…
2Cases cited13 opinions
- The Distilled SpiritsSupreme Court of the United States · 1871
- Fulton Bank v. New-York & Sharon Canal Co.New York Court of Chancery · 1833
- Hoover v. WiseSupreme Court of the United States · 1876
- National Security Bank v. CushmanMassachusetts Supreme Judicial Court · 1877
- Hart v. Farmers & Mechanics BankSupreme Court of Vermont · 1860
8 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- German American Mutual Life Ass'n v. FarleySupreme Court of Georgia · 1897
- Royal Mining Company v. Fidelity Casualty Co.Missouri Court of Appeals · 1911
- Cox v. . PearceNew York Court of Appeals · 1889
- Lyndon Mill Co. v. Lyndon Literary & Biblical InstitutionSupreme Court of Vermont · 1891
- Red River Valley Land & Investment Co. v. SmithNorth Dakota Supreme Court · 1898
9 more not listed; retrieve them via the Exa API.