Walworth County Bank v. Farmers Loan & Trust Co.
Wisconsin Supreme Court
APPEAL from, the Circuit Court for Racine County. This case was before this court at the June term, 1861, and is reported in 18 "Wis., 325, to which reference can be had for a statement of the case, as it then appeared.
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APPEAL from, the Circuit Court for Racine County. This case was before this court at the June term, 1861, and is reported in 18 "Wis., 325, to which reference can be had for a statement of the case, as it then appeared. At the second trial, in addition to the resolutions of the railroad company offered in evidence at the former trial, and which that court held did not authorize the president of the company to sell the ties to the plaintiff in payment of its claim against the compan y for the taking and conversion of which this action is brought, the plaintiff gave in evidence a resolution of…
1Opinion of the Court
By the Court,
Paine, J.
When this case was formerly here, we decided that the -president of the railroad company had no power, either by virtue of his office, or of the resolutions of the board of directors which were then relied on, to sell the property in question. On the second trial, the plaintiff introduced a further resolution as follows: “ Resolved, That the president and vice president be and they are hereby authorized and empowered to enter into such arrangements with the creditors of this company, and the holders of any of its securities, for such relief as the circumstances and…
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