Minnesota Reports; Cases Argued and Determined in the Supreme Court of Minnesota Volume 28

Minnesota Reports; Cases Argued and Determined in the Supreme Court of Minnesota Volume 28

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1882 edition. Excerpt: ... conferred upon it, expressly or by implication, by the law of its creation; yet it may become legally bound to observe and perform contracts which it had not authority to enter into. The ends of justice may require, as in this case, that the corporation which has exceeded its powers should be estopped by its own acts from pleading, in defence of its assumed obligations, that they were ultra vires. To apply the principle of estoppel is not to enlarge the powers of the corporation; nor does it give warrant to a corporation to disregard or violate the restrictions which have been expressly imposed upon it, or which exist in the absence of power conferred. It was said by the court in Bradley v. Ballard, 55 Ill. 413: "This doctrine estoppel is applied only for the purpose-of compelling corporations to be honest, in the simplest and commonest sense of honesty, and after whatever mischief may belong to the performance of an act ultra vires has been accomplished." In Railway Co. v. McCarthy, 96 U. S. 258, the court say: "The doctrine of ultra vires, when invoked for or against a corporation, should not be allowed to prevail where it would defeat the ends of justice or work a legal wrong." Whether the plea of ultra vires should be-allowed as a. defence to assumed obligations should not be determined without regard to the character and objects of the incorporation, the nature of the powers conferred or withheld, the particular character-of the obligations assumed or contract entered into, the relations of the contracting parties, and the bona ficles of him against whom the-doctrine of ultra vires is asserted. In this case the defence sought to be made to the note is that in giving it the article of the defendant's...show more

Product details

  • Paperback | 222 pages
  • 189 x 246 x 12mm | 404g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236761855
  • 9781236761859