Campbell v. Manatawny Bessemer Ore Co.

Citations

• 62 Pa. Super. 57
• 1916 Pa. Super. LEXIS 352

Syllabus

<p>Corporations — Contracts—Authority of vice-president.</p> <p>Where the directors of a corporation owning a tract of ore land pass a resolution authorizing the officers of the company to enter into a contract for the sale of its preferred stock and to incur the necessary expenses incident thereto, the vice-president and general manager may make a contract binding upon the corporation for the services of an expert in making an examination of the ore, and this is the case although the by-laws provide that the president shall have general management of the company’s affairs and sign all contracts and the duties of the vice-president are limited to presiding over meetings in the absence of the president, and the duties of the general manager are not prescribed; and all the moro is such a contract binding if it appears that a hill for the services was several times presented to the company, and that no disapproval of the action of the vice-president was made until after the expiration of two years from the time the services were rendered.</p>