First National Bank v. Charles Conway

Citations

• 87 Wash. 506
• 151 P. 1129
• 1915 Wash. LEXIS 937

Syllabus

<p>Appeal—-Review-—Findings. The finding of a jury upon conflicting evidence is conclusive upon appeal.</p> <p>Frauds, Statute of—Contracts—Sale of Real Estate. Executory contracts' for the sale of land, required to be in writing, are not specialties, but simple contracts, valid when signed without the formalities required for the execution of deeds.</p> <p>Evidence—Parol Evidence to Vary Writing—Real Party in Interest—Principal and Agent—Fact of Agency. Parol evidence is admissible to show that an executory contract for the sale of land in the name of the vice president of a bank as purchaser was taken by him as agent for the bank, and that the bank was liable thereon as the real party in interest.</p> <p>Banks and Banking—National Banks—Power to Take Real Estate. Having made an improvident loan to a brick manufacturing company, a national bank has power to purchase and take title to the real estate upon which the brick plant was situated, in order to save itself from apprehended loss; under II. S. Rev. St., § 5137, so expressly providing.</p> <p>Same—Officers—Cashier—Powers—Apparent Authority. The cashier of a national bank who was its principal stockholder and chief executive officer, having general care over practically all its transactions, acts within the apparent scope of his authority in purchasing real estate to save the bank from apprehended loss on an improvident loan to a brick manufacturing company whose plant was situated upon the property, which was the bank’s only security; hence it is not necessary to show that he was specially authorized by the board of directors.</p> <p>Principal and Agent — Contract by Agent—Evidence—Admissibility. Upon an issue as to whether a cashier had made a contract on behalf of a bank, as claimed by defendants, although the contract was in the name of the vice president individually, evidence of the transaction with the cashier and papers used by him at the time, tending to support the defendants’ claim, are admissible.</p