Pacific Bank v. De Ro

Citations

• 37 Cal. 538
• 1869 Cal. LEXIS 94

Syllabus

<p>Power of the Legislature to Change the Name of a Corporation. — Tho power of the Legislature to change tho name of a corporation by special statute, in view of the constitutional provision that “corporations may be formed under general laws, but shall not be created by special Act, except for municipal purposes,” considered, but not decided.</p> <p>Corporate Franchises cannot be Questioned in a Private Action.—In an action upon a promissory note by a dc facto corporation against an indorser, the latter, in view of tho statute of 1862, (Stats. 1862, p. 110,) cannot put the due incorporation of tho plaintiff, or its right to exorcise corporate powers, in issue, if the plaintiff claims in good faith to be a corporation under the laws of this State, and to ho doing business as such.</p> <p>Scope of the Statute of 1862 Prohibiting an Inquiry into the Right of a dc facto Corporation to Exercise Corporate Powers.—Tho effect of the statute of 1862, providing that the due incorporation of a company claiming in good faith to be a corporation under the laws of this State, shall not be questioned in a private suit, is not limited to corporations existing at the time of its passage, but extends also to corporations since created.</p> <p>Stamps.—The waiver, by an indorser of a promissory note, of presentation, demand, notice of non-payment, and protest, written upon the back of the note, need not bo stamped in order to be valid.</p> <p>Explanations and Comments.—The ease of Karris v. McGregor, 29 Cal. 124, commented upon and explained.</p>