New Market Savings Bank v. Gillet

Citations

• 100 Ill. 254
• 1881 Ill. LEXIS 86

Syllabus

<p>1. Incorporated religious societies—of the proper mode of executing written instruments by them. The proper mode of executing a promissory note by a religious society or congregation incorporated under our statute, is by the use of the individual names of the trustees, with tÉeir corporate name appended.</p> <p>2. Some of the requirements in respect to the mode of executing deeds of conveyance of real estate by such corporations, as held in Lombard v. Chicago Sinai Congregation, 64 Ill. 487, do not apply to a promissory note. There is no granting or concluding clause in the latter; the name of the promisor need not appear therein at all; the signature thereof to the note is enough.</p> <p>3. Same—in the pa/rticular case—whether the indimdnial note of the persons signing, or that of the corporation. In this case the note read,“eighteen months after date, we, the trustees of the First Free Will Baptist Society of Chicago, promise to pay,” etc., and was signed by several persons, with the words, “Trustees of the First Free Will Baptist Society of Chicago, Ill.,” appended. The words so used as characterizing the persons whose names were signed to the note, and also as used in the body of the note, constituted the proper corporate name of the corporation in behalf of which the signers purport to have acted. It was held, the note was not the individual note of the persons signing it, but that of the corporation named- therein.</p> <p>4. There is a distinction to be taken between such a. case, where the name used, both in the body of the note and as appended to the signatures of the persons signing the same, was the proper corporate name of the society, and those eases in which the names or designations used were not the corporate name, and where it was therefore held that the instruments sued upon were not the obligations of the-corporations, but the individual obligations of the persons signing them.</p> <p>5. The use of the word “we, ” the trustees, etc., in the note