Dedrick v. Ormsby Land & Mortgage Co.

Citations

• 12 S.D. 59
• 80 N.W. 153
• 1899 S.D. LEXIS 75

Syllabus

<p>Under Comp. Laws, $ 3524, providing that-“a voluntary acceptance of the benefit of a transaction is equivalent to a consent to all the obligations arising from it, so far as the facts are known or ought to be known to the person accepting,’’ a corporation which accepts the benefit of an agreement executed in its behalf by one of its officers, extending a mortgage on its property, and containing a provision by which it assumed liability for the debt secured,.is bound by such provision, regardless of the question of the officer’s original authority to execute such agreement.</p>