McKinley v. Mineral Hill Consolidated Mining Co.

Citations

• 46 Wash. 162
• 89 P. 495
• 1907 Wash. LEXIS 580

Syllabus

<p>Corporations — Notes—Officers—Authority and Consideration— Pleading. A complaint alleging an indebtedness by a corporation, and the execution and delivery of a note therefor, reciting that it was for value received, sufficiently alleges consideration for the note and execution by the corporation without stating the authority for the execution, which is matter of defense.</p> <p>Same — Apparent Authority. Where a note was executed by the president and general manager of a corporation in the presence of its officers and board of trustees, the corporation is liable thereon, unless it shows affirmatively that the act was unauthorized.</p> <p>Same — Ratification—Receipt of Benefits. A corporation cannot set up want of authority in its president to execute a note, where it had received benefits by way of money advanced and services rendered for which the note was given.</p>