Webster v. Jossman
Michigan Supreme Court
Error to Oakland; Smith, J. Assumpsit by Elmer R. Webster, receiver of the E. Jossman State Bank, against Ralph E. Jossman, principal, and Harrison Walter and Joseph A. Jossman, sureties, on a statutory bond. Judgment for plaintiff on a directed verdict. Defendants bring error. On November 18, 1902, the E. Jossman State Bank was organized under the bahking laws of this State at Clarkston, in Oakland county.
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Error to Oakland; Smith, J. Assumpsit by Elmer R. Webster, receiver of the E. Jossman State Bank, against Ralph E. Jossman, principal, and Harrison Walter and Joseph A. Jossman, sureties, on a statutory bond. Judgment for plaintiff on a directed verdict. Defendants bring error. On November 18, 1902, the E. Jossman State Bank was organized under the bahking laws of this State at Clarkston, in Oakland county. On this day its first board of directors held its first meeting, and the following official action was taken: “Ralph E. Jossman was elected cashier at a salary of $600 a year. Motion made,…
1Opinion of the CourtFellows, J.
(after stating the facts). There are many assignments of error, but counsel for the appellants have very properly confined their discussion in the briefs and upon the oral argument to the controlling questions, as the case in the court below resolved itself finally into questions of law, pure and simple.
On behalf of appellants it is insisted that the bond is not a continuing one; that the office of cashier was an annual one, and was so made in the by-laws, and that the enactment of such by-laws was within the power of the corporation; that the cashier was elected annually, and the bond only…
2Cases cited25 opinions
- Union Pac. Ry. Co. v. Chicago, R. I. & P. Ry. Co.Court of Appeals for the Eighth Circuit · 1892
- Westervelt v. MohrenstecherCourt of Appeals for the Eighth Circuit · 1896
- Ulster County Savings Institution v. YoungNew York Court of Appeals · 1899
- Stadler v. City of DetroitMichigan Supreme Court · 1865
- Hubert v. MendheimCalifornia Supreme Court · 1883
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3Cited by2 opinions
- Little v. American State BankMichigan Supreme Court · 1933
- Rundell v. Farmers' Co-operative Elevator Co.Michigan Supreme Court · 1920