Cupit v. Park City Bank
Utah Supreme Court
Appeal from the Third District Court, Summit County, Hon. A. G. Norrell, Judge. Creditors’ bill by plaintiff to set aside and adjudge to be void as to plaintiff a general assignment madei by the Park City bank for the benefit of its creditors and to declare a certain judgment held by plaintiff against the bank to be a first lien upon certain real property included in the assignment. From a judgment for defendants, plaintiff appeals.
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Appeal from the Third District Court, Summit County, Hon. A. G. Norrell, Judge. Creditors’ bill by plaintiff to set aside and adjudge to be void as to plaintiff a general assignment madei by the Park City bank for the benefit of its creditors and to declare a certain judgment held by plaintiff against the bank to be a first lien upon certain real property included in the assignment. From a judgment for defendants, plaintiff appeals. There is no authority vested in a president, vice president, or cashier of a banking corporation, to make an assignment for .benefit of creditors. Beach Corp.,…
1Opinion of the CourtMcCarty, District Judge
*302The grounds upon which appellant relies for reversal of the judgment of the trial court may be summarized as follows: (a) That the assignment is void because made without authority, and never ratified by authority, (b) That Richardson had no authority to make the assignment, because such act did not by common usage pertain to his position, and because at the time his office was vacant by reason of his indebtedness to the bank, (c) That the election of Gregor as director by Richardson, Gunn and Cahoon was void, (d) That the alleged ratification of the assignment of June 16, was invalid because…
2Cases cited6 opinions
- Baldwin v. CanfieldSupreme Court of Minnesota · 1879
- Chemical National Bank v. ColwellNew York Court of Appeals · 1892
- Herrington v. District Township of ListonSupreme Court of Iowa · 1877
- Smith v. DornCalifornia Supreme Court · 1892
- Brown v. PeopleMichigan Supreme Court · 1877
1 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- McLaughlin v. Park City BankUtah Supreme Court · 1900
- Huntington Roller Mills & Mfg. Co. v. MillerUtah Supreme Court · 1922
- State Ex Rel. Stowell v. LittrellCourt of Appeals of Arizona · 1971
- Naame v. BradwayNew Jersey Superior Court Appellate Division · 1978