Bradlee v. Warren Five Cents Savings Bank
Massachusetts Supreme Judicial Court
The first case was an action of contract against the de fendant as indorser, to recover the interest which became due on June 1, and December 1, 1876, on three notes of the Eastern Railroad Company of $1000 each, payable to the defendant and purporting to be indorsed in the name of the corporation by A. H. Merrill, its treasurer.
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The first case was an action of contract against the de fendant as indorser, to recover the interest which became due on June 1, and December 1, 1876, on three notes of the Eastern Railroad Company of $1000 each, payable to the defendant and purporting to be indorsed in the name of the corporation by A. H. Merrill, its treasurer. At the trial in the Superior Court before Bacon, J., without a jury, the plaintiff put the notes in evidence, and proved a demand upon the maker for the interest falling due on June 1, and notice to the defendant of the refusal to pay. It was admitted that Merrill…
1Opinion of the CourtSoule, J.
The vote of the board of investment of the defendant corporation to sell the notes of the Eastern Railroad Company did not authorize the treasurer so to indorse them as to impose the liability of indorser on the defendant. Such indorsement was not necessary in order to enable the corporation to divest itself of property in the notes. They could have been indorsed without recourse, a well-known method of indorsing paper so as to avoid all liability on it. The treasurer went far beyond the authority given by the vote in assuming to make the defendant undertake that the notes should be paid at…
2Cases cited4 opinions
- Batman v. MegowanCourt of Appeals of Kentucky · 1859
- Estabrook v. SwettMassachusetts Supreme Judicial Court · 1874
- Bronson v. CoffinMassachusetts Supreme Judicial Court · 1875
- Tozier v. CraftsMassachusetts Supreme Judicial Court · 1878
3Cited by12 opinions
- Merchants' National Bank v. Citizens' Gas Light Co.Massachusetts Supreme Judicial Court · 1893
- Lonergan v. Highland Trust Co.Massachusetts Supreme Judicial Court · 1934
- Commonwealth v. Reading Savings BankMassachusetts Supreme Judicial Court · 1884
- Milwaukee Brick & Cement Co. v. SchoknechtWisconsin Supreme Court · 1901
- New Hampshire National Bank v. Garage & Factory Equipment Co.Massachusetts Supreme Judicial Court · 1929
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