Florence Railroad & Improvement v. Chase National Bank
Supreme Court of Alabama
Appeal from the District' Court of Lauderdale. Tried before the Hon. W. P. Chitwood. The facts of the case are sufficiently stated in the opinion. — 1. A corporation can not lawfully make paper merely for the aecomodatiou of another party, unless it has express legislative authority to do so, such power is not the power incident to the corporation ; and not being inherent in a private corporation, it must be granted by express legislative authority.. — Ohewacla Lime Works v.…
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Appeal from the District' Court of Lauderdale. Tried before the Hon. W. P. Chitwood. The facts of the case are sufficiently stated in the opinion. — 1. A corporation can not lawfully make paper merely for the aecomodatiou of another party, unless it has express legislative authority to do so, such power is not the power incident to the corporation ; and not being inherent in a private corporation, it must be granted by express legislative authority.. — Ohewacla Lime Works v. Dismukes, 87 Ala. 346; Green’s Brice’s Ultra Vires, 252; (S'mead v. Indianapolis R. R. Co., 11 Ind. 109 ; Davis v. Old…
1Opinion of the CourtColeman, J.
— The Florence Railroad & Improvement Company, a private corporation, executed a negotiable note, payable at the Florence National Bank to the order of the Florence Wagon Company, which in due course of trade, before maturity, for a valuable con-' sideration became the property of The Chase National Bank, and not being paid at maturity, the present action was instituted to enforce its payment. Many exceptions were reserved during the trial, and there are numerous assignments of error. The record presents but two meritorious questions of law, and which are decisive of the case. In fact these…
2Cases cited9 opinions
- Railway Co. v. McCarthySupreme Court of the United States · 1878
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Barnet v. National BankSupreme Court of the United States · 1879
- Supervisors v. SchenckSupreme Court of the United States · 1867
- Monument National Bank v. Globe WorksMassachusetts Supreme Judicial Court · 1869
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- Anderson v. H&R Block, Inc.Court of Appeals for the Eleventh Circuit · 2002
- Jones v. MooreSupreme Court of Alabama · 1924
- Murphy v. Merchants Nat. Bank of MobileSupreme Court of Alabama · 1941
- In re John B. Rose Co.Court of Appeals for the Second Circuit · 1921
- Stouffer v. Smith-Davis Hardware Co.Supreme Court of Alabama · 1908
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