Hawkins Realty Co. v. Hawkins State Bank

The following opinion was filed May 12, 1931:

Nelson, J.

Defendant contends: (1) That the secret agreement entered into between Ellingson, the president of the bank, and Vig, its cashier, was void—(a) Because it violated an existing by-law of which Ellingson had knowledge or must be presumed to have had knowledge;(b) Because it was wholly ultra rnres as to Vig, the cashier;(c) Because the contract was never ratified by the bank; and(d) Because it is against sound public policy.(2) That, in any event, all rights, if any, under the contract were barred by the statute of limitations.

The plaintiff,…