Choctaw, O. & G. R. v. Bond

Citations

• 160 F. 403
• 87 C.C.A. 355
• 1908 U.S. App. LEXIS 4200

Syllabus

<p>1. Contracts — Equitabre Interpretation — Forfeiture.</p> <p>A contract should not be construed as providing for an unreasonable and oppressive forfeiture, if its language fairly admits of a more equitable interpretation.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig. vol. 11, Contracts, § 735.]</p> <p>2. Same — 'Divisibility—Illegal Consideration.</p> <p>When a contract consists of distinct agreements, each founded upon a distinct consideration, it is to be regarded as divisible; and, if one of the considerations be illegal, that alone does not invalidate the entire contract, but only tbe agreement founded thereon, and the others may b® enforced.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig. yol. 11, Contracts, §§ 701-712.]</p> <p>3. Corporations — Contracts—Ultra Vires — Corporation Presumed to Contract Within its Powers.</p> <p>Corporations are presumed to contract within their powers; and when a corporate contract is not on its face beyond the powers of the corporation making it, it will, in the absence of evidence to the contrary, be presumed to be valid.</p> <p>[Syllabus by the Court.)</p>