Fitzgerald v. First Nat. Bank of Rapid City

Citations

• 114 F. 474
• 52 C.C.A. 276
• 1902 U.S. App. LEXIS 4113

Syllabus

<p>1. Contracts — Terms Have Ordinary Meaning.</p> <p>The legal presumption is that the words used in an agreement have their ordinary and customary meaning.</p> <p>2. Same — Construction—Fundamental Rule. '</p> <p>The basic rule for the construction of a contract is to place one's self in the situation of the parties to the agreement when it is made, and then to ascertain and declare the intent with which they used its terms when their minds met.</p> <p>8. Same — Practical Interpretation Persuasive.</p> <p>The practical interpretation given to their agreements by the parties to them while they are engaged in their performance, and before any controversy has arisen concerning them, is one of the best indications of their intent.</p> <p>4. Same — Construction.</p> <p>Where A. was building a railroad in two ways: (1) By the use of his own employés; and (2) by the use of contractors, who had agreed to construct certain sections for specified prices, — an agreement to furnish beef to the “men working for” him is not an agreement to furnish it to his contractors, but is limited to a contract to furnish it to his employés or servants.</p> <p>5. Stated Account — Estoppel by.</p> <p>One who delivers, or receives and accepts without objection, an account stating the debits and credits between him and the other party to the accounting, is thereby estopped from denying the correctness of the account thus stated, in the absence of fraud, mistake, or undue advantage.</p> <p>(Syllabus by the Court.)</p>