Alton Manufacturing Co. v. Garrett Biblical Institute
Illinois Supreme Court
Appeal from the Appellate Court for the First District ;—heard in that court on appeal from the Municipal Court of Chicago; the Hon. Edward A. Dicker, Judge, presiding. This is, an appeal from a judgment of the Appellate Court affirming a judgment of the municipal court of Chicago against appellant for costs. Appellant, plaintiff below, sued the appellee in an action of assumpsit on three promissory notes.
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Appeal from the Appellate Court for the First District ;—heard in that court on appeal from the Municipal Court of Chicago; the Hon. Edward A. Dicker, Judge, presiding. This is, an appeal from a judgment of the Appellate Court affirming a judgment of the municipal court of Chicago against appellant for costs. Appellant, plaintiff below, sued the appellee in an action of assumpsit on three promissory notes. One of the notes was dated April 19, 1902, for $gooo; payable four years after date. Another one was for $2000, dated November 15, 1902, payable four years after date, and another one was…
1Opinion of the CourtChief Justice Farmer
delivered the- opinion of the court:
The first question necessary to be determined is whether the Garrett Biblical Institute, under its charter, was authorized to borrow money for its corporate purposes. The answer to this question must depend upon the provisions of the charter under which the corporation is operating, for the powers which any corporation is permitted to exercise are those, only, which its charter confers upon it, either by express grant or by implication, and the implied powers are recognized and given effect for the purpose of enabling such bodies to exercise the express…
2Cases cited9 opinions
- Bank of United States v. DandridgeSupreme Court of the United States · 1827
- People ex rel. Peabody v. Chicago Gas Trust Co.Illinois Supreme Court · 1889
- Merchants' National Bank v. Nichols & Shepard Co.Illinois Supreme Court · 1906
- Jackson Paper Manufacturing Co. v. Commercial National BankIllinois Supreme Court · 1902
- Ward v. JohnsonIllinois Supreme Court · 1880
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3Cited by16 opinions
- Karetzkis v. Cosmopolitan National BankAppellate Court of Illinois · 1962
- McCartney v. Clover Valley Land & Stock Co.Court of Appeals for the Eighth Circuit · 1916
- Long v. Baltimore & Ohio RailroadCourt of Appeals of Maryland · 1928
- St. Vincent College v. HallettCourt of Appeals for the Seventh Circuit · 1912
- American Union Financial Corp. v. University National BankAppellate Court of Illinois · 1976
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