Louisville & Nashville Railroad v. Literary Society
Court of Appeals of Kentucky
Case 74 — PETITIONS ORDINARY, TRANSFERRED TO EQUITY APPEAL FROM WASHINGTON CIRCUIT COURT. 1. Appellees were not misled as to the object for which the money subscribed was to be used. 2. The obligation sued on is that of the corporation, and not of the individual, signing it. (Pack v. White, 78 Ky., 243; Trask v. ltoberts, 1 B. M., 201;' Yowell v. Dodd, 3 Bush, 582.) 3. The contract is not ultra vires. (Germantown Farmers’ Mut. Ins.
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Case 74 — PETITIONS ORDINARY, TRANSFERRED TO EQUITY APPEAL FROM WASHINGTON CIRCUIT COURT. 1. Appellees were not misled as to the object for which the money subscribed was to be used. 2. The obligation sued on is that of the corporation, and not of the individual, signing it. (Pack v. White, 78 Ky., 243; Trask v. ltoberts, 1 B. M., 201;' Yowell v. Dodd, 3 Bush, 582.) 3. The contract is not ultra vires. (Germantown Farmers’ Mut. Ins. Co. v. Dliein, 43 Wis., 420; Bock Biver Bank v. Sherwood, 10 Ind., 230; Farmers and Traders’ Bank v. Harrison, 57 Mo.; Eastern Counties B. Co. v. Hawkins, 5 H. L.…
1Opinion of the CourtChief Justice Holt
Tlie Literary Society of St Rose and the Literary Society of St. Catharine are corporations for educational purposes existing in or near the town of Springfield, in Washington county. They have power to contract and buy and sell real and personal property for the purpose of “sustaining and carrying on said institution of learning, and not otherwise.” Each owns and operates a farm of about a thousand acres *397of very considerable value, thus creating a large industry in the way of supplies furnished to them, and they, in turn, furnishing to others.
A corporation, known as the Middle Division of…
2Cases cited1 opinion
- Steadman v. GuthrieCourt of Appeals of Kentucky · 1862
3Cited by10 opinions
- Corning Glass Works v. LucasCourt of Appeals for the D.C. Circuit · 1929
- Tod v. Kentucky Union Land Co.U.S. Circuit Court for the District of Kentucky · 1893
- Bronston's Admr. v. LakesCourt of Appeals of Kentucky · 1909
- Huntington Brewing Co. v. McGrewIndiana Court of Appeals · 1916
- Derr v. FisherSupreme Court of Oklahoma · 1908
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