Bankers Trust & Audit Co. v. Hanover National Bank

1. An admission in the pleadings is to be taken as true, and the record should not be burdened with proof of the fact admitted. Lovell v. Frankum, 145 Ga. 106 (5) (88 S. E. 569). So an admission of a material fact in the defendant’s answer is not ousted by an agreed statement of facts, made for the purpose of trial, and silent as to the fact so admitted in the answer.

2. A commercial corporation having the authority, expressly conferred by its charter, “to buy and sell, hold as investment, and otherwise deal and traffic in stocks, bonds, securities, and other obligations of other corporations…