Mexican Gulf Land Co. v. Globe Trust Co.

Citations

• 125 Miss. 862
• 88 So. 512

Syllabus

<p>1. CORPORATIONs. Corporate deed executed by secretary to himsetj as grantee not void, where president also joined.</p> <p>The fact that a deed from a corporation to an individual to land was executed on the part of the corporation by its secretary, who was also grantee in the deed, does not render the conveyance void, where the president of the corporation also joined in the execution of the deed, under section 2766, Code of 1906 (section 2270, Hemingway’s Code), which provides, among other things, that a corporation may convey its land under the corporate seal and the signature of an officer.</p> <p>2. Acknowledgment. Corporation’s deed need not be acknowledged nor filed for record as between parties.</p> <p>A conveyance of land by a corporation, in order to be valid as between the parties thereto, is not required to be acknowledged by the officer executing the same for the corporation, nor filed for record; such a deed being valid without being so acknowledged and filed for record; acknowledgment and recording being required for the purpose alone of constructive notice to others subsequently dealing with the land conveyed.</p> <p>3. Cancellation of Instruments. Petition held insufficient to state grounds' for cancellation of corporation’s deed to its secretary.</p> <p>A bill in equity by the grantor in a deed against the grantee to , set aside and cancel such deed as a cloud upon the grantor’s title, the grantor being a corporation, which alleges as grounds for cancellation of such deed that the consideration therein mentioned is “feigned and fictitious;” that the grantee in the deed was the secretary of the grantor corporation, and joined in the execution of the deed to himself, together with the president of the corporation; that the deed was not legally acknowledged by the president of the corporation — states no grounds for cancellation of such deed.</p>