National Bank of Commerce v. Puget Sound Biscuit Co.

Citations

• 61 Wash. 192
• 112 P. 265
• 1910 Wash. LEXIS 1314

Syllabus

<p>Corporations — Representation by Officers — Contracts—Notes — Authority to Execute — Ratification. A corporation is liable upon its promissory notes executed without express authority of its trustees, where they were signed by the secretary (one of the trustees) with the knowledge and consent of the president, the only other trustee, this was the habitual method of transacting its business, and the notes were used to raise funds to finance the corporation and purchase machinery and equipment.</p>