Main v. Casserly

Citations

• 67 Cal. 127
• 7 P. 426
• 1885 Cal. LEXIS 574

Syllabus

<p>Corporation—Promissory Note—Ultra Vibes.—A corporation is liable on its promissory note, the consideration of which it has received and retained, although the note was executed in pursuance of a contract ultra vires. Promissory Note—Interest upon Default—How Computed.—Where a promissory note provides that in case of non-payment at maturity it shall bear interest at a certain rate until paid, interest should be computed upon it from its date and not from the time of default.</p>