Balfour-Guthrie Investment Co. v. Woodworth

Citations

• 124 Cal. 169
• 56 P. 891
• 1899 Cal. LEXIS 964

Syllabus

<p>Deed of Trust—Appointment op Substituted Trustee—Corporation— Copy of Resolution op Directors—Validity op Transfer.—Under a deed of trust executed to secure the indebtedness of the grantor to a corporation, which provided that the corporation might by a resolution of its board of directors appoint a substituted trustee in whom the title should vest upon conveyance thereto by the designated trustees, it is not necessary to the validity of the transfer that a copy of such resolution should be annexed thereto.</p> <p>In.—Evidence op Appointment—I rovision in Deed.—A provision in the deed of trust that a copy of the reso’utlon of the board of directors certified by its secretary should be c.n in ive evidence that the substituted trustee had been duly appointed, does not render such copy the exclusive mode of showing that a substitution had been made, and the resolution may be proved by the records of the corporation.</p> <p>Id.—Special Meeting of Directors—Presumption of Notice.— Where the resolution was spread at length upon the records of the corporation, and was authenticated by the signature of one purporting to be its secretary, the fact that it was passed at a special meeting of the directors, at which all of them were not present, and that it did not appear that notice of the meeting had been given to all of the directors, does not vitiate the resolution. In the absence of evidence to the contrary, it will he presumed that proper notice was given.</p> <p>Id.—Finding as to Notice—Sufficiency of Evidence.—Evidence by the secretary that he had given notice of the meeting to each of the directors by sending to them by a messenger written notices, at least twenty-four hours prior to the meeting, in the absence of any evidence to the contrary, is sufficient to authorize the court to find that proper notice of the meeting was given.</p> <p>Id.—Sale of Lands bv Substituted Trustee—Action to Quiet Title— Election of Directors .—For the purposes of an action to quiet ti