Lay v. Austin

Citations

• 25 Fla. 933

Syllabus

<p>A promissory note payable to tire order of the Panasoff kee and Witlilacooobee Navigation Company, and a mortgage securing the same, were assigned by its president and secretary, the assignment being in substance : “We, the undersigned, D. R. T., President, and C. S. B., Secretary of the P. & W. N. Co., hav transferred to J. C. the attached mortgage and note, and on the part of said company have hereto attached our names and affixed our seals,” they signing their individual names and using statutory private seals: Held, 1st, that the assignment is upon its face the act of the company through these offices, and not the individual act of the officers ; 2d, that a bill setting up the assignment, and alleging thatthe officers had authority to make it, shows a valid transfer of the note and mortgage to the assignee, and is not demurrable as not showing that the company had parted with its title to these instruments.</p>