Forbes v. San Rafael Turnpike Co.
California Supreme Court
Appeal from the District Court, Seventh Judicial District, County of Marin. The following is a copy of the note sued on: "'$2000. San Rafael, May 16, 1866. “One year after date, for value received, the San Rafael Turnpike Road Company promises to pay Charles D. Bates, or order, in United States gold coin, two thousand dollars, with interest thereon from date until paid, at the rate of one and one-half per cent, per month, said interest payable monthly in like gold coin.
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Appeal from the District Court, Seventh Judicial District, County of Marin. The following is a copy of the note sued on: "'$2000. San Rafael, May 16, 1866. “One year after date, for value received, the San Rafael Turnpike Road Company promises to pay Charles D. Bates, or order, in United States gold coin, two thousand dollars, with interest thereon from date until paid, at the rate of one and one-half per cent, per month, said interest payable monthly in like gold coin. This note is secured by a mort- ■ gage from said San Rafael Turnpike^Road Company to said Charles D. Bates, of even date…
1Opinion of the Court
By the Court:
The defendant was incorporated as a turnpike road company under the act of May 12, 1853 (Statutes 1853, p. 169), and the action is upon a note and mortgage executed by the board of directors as security for a debt contracted in the construction of the road. The defense is that the board of directors exceeded its authority in executing those instruments, which, it is claimed, were void ab initio. At the trial, the court excluded the note and mortgage when offered in evidence by the plaintiff, and this ruling is assigned as error.
Section 19 of the statute under which the defendant…
2Cited by1 opinion
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