City of Goodland v. Bank of Darlington
Missouri Court of Appeals
Appeal from the Gentry Circuit Court. — Hon. Cyrus A. Anthony, Judge. (1) The statutes of the state of Missouri authorizing the incorporation of banks, by fair implication, authorize a banking corporation to invest its funds in the stock of other corporations.
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Appeal from the Gentry Circuit Court. — Hon. Cyrus A. Anthony, Judge. (1) The statutes of the state of Missouri authorizing the incorporation of banks, by fair implication, authorize a banking corporation to invest its funds in the stock of other corporations. R. S. 1889, sec. 2751. (2) A corporation is estopped from pleading 'ultra vires as a defense to a contract from which it has received benefit. 5 Thompson’s Commentaries on Corporations, sec. 6016. (3) A corporation is estopped from pleading the defense of ultra vires to a contract where such contract has been executed by the other…
1Opinion of the CourtSmith, P. J.
— The allegations of the plaintiff’s petition are as follows:
Petition “1. That the plaintiff is a municipal corporation 'organized under the statutes of the state of Kansas, and the defendant is a savings bank organized under the statutes of this state.
2. That the Sherman County Bank is and has been since 1889 a banking corporation organized under the statutes of the state of Kansas, having its chief' place of business in the city of Goodland, county of Sherman, and state of Kansas. 3. That the said Sherman County Bank on the ninth day of March, 1896, became insolvent, and thereupon receivers…
2Cases cited33 opinions
- Central Transportation Co. v. Pullman's Palace Car Co.Supreme Court of the United States · 1891
- National Bank v. MatthewsSupreme Court of the United States · 1879
- Thomas v. Railroad Co.Supreme Court of the United States · 1880
- Whitney Arms Co. v. . BarlowNew York Court of Appeals · 1875
- Pennsylvania Railroad v. St. Louis, Alton & Terre Haute RailroadSupreme Court of the United States · 1886
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3Cited by16 opinions
- Anglo-American Land, Mortgage & Agency Co. v. LombardCourt of Appeals for the Eighth Circuit · 1904
- Illinois Fuel Co. v. Mobile & Ohio RailroadSupreme Court of Missouri · 1928
- Cass County v. Mercantile Town Mutual InsuranceSupreme Court of Missouri · 1905
- Chenoweth v. Pacific Express Co.Missouri Court of Appeals · 1902
- Prudential Insurance Co. of America v. German Mutual Fire InsuranceMissouri Court of Appeals · 1937
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