Kirwin v. Washington Match Co.

Citations

• 37 Wash. 285
• 79 P. 928
• 1905 Wash. LEXIS 722

Syllabus

<p>Corporations — Contracts—Trustees—Agents—Ratification by Stockholders — Statutes—Construction. • The statute providing that the powers of a corporation shall be exercised by its board of trustees is not exclusive, and a contract made by agents, which was within the powers of the corporation, may be ratified at a stockholders’ meeting so as to become a binding obligation.</p> <p>Same — Accepting Benefits of Contract — Estoppel. Where money is received and used for the benefit of a corporation by its executive officers who were also trustees, the corporation ratifies the contract under which the money was paid, and is estopped to deny the authority of its agents to make the same.</p>