Chicago Deposit Vault Co. v. McNulta

Citations

• 153 U.S. 554
• 14 S. Ct. 915
• 38 L. Ed. 819
• 1894 U.S. LEXIS 2204

Syllabus

<p>A receiver of a railroad, appointed with authority “ to make all contracts that may be necessary in carrying on the business of said railroad, subject to the supervision of this court,” has no authority to make a lease for a term of general offices, without authority from the court, and to bind his successors and the property therefor for the term, without direction from or sanction by the court.</p> <p>The facts that the receiver’s accounts showed, monthly, the payment of the rent under such a lease, and that that rent was reasonable, and that the accounts as rendered were passed by the master and reported to and approved by the court, do not amount to a sanction of the lease for the term.</p>