Andres v. Fry

Citations

• 113 Cal. 124
• 45 P. 534
• 1896 Cal. LEXIS 754

Syllabus

<p>Corporations—Authority to Execute Contract—Seal— Presumption —Prima Eacie Evidence.—A contract executed by the president and secretary of a corporation, and bearing the corporate seal, is presumed to have been executed by due authority; and the production of such contract in evidence, with proof of its signature, and of the corporate seal, makes a prima facie showing that the contract is the contract of the corporation.</p> <p>Id.— Action of Board of Directors — Authority to Executive Committee — Power t<^ Make Contract. — The board of directors of a corporation may authorize an executive committee of the board to make arrangements with a person named for the transfer of patent rights from him to the corporation, and such authority empowers it to execute a contract with such person for that purpose; and it is not essential that such committee should formally report to the board before executing such contract, and attaching the seal of the corporation thereto.</p>