Vail v. Arizona

Syllabus

<p>Stare ’decisis is a wholesome doctrine, and, while not of universal application, is especially applicable to decisions affirming the validity of securities authorized by statute. Such decisions should he regarded as conclusive even as to those not strictly parties so as to prevent wrong • to innocent holders who purchased in reliance thereon.</p> <p>Where bonds of a county have been declared valid in a suit of which tire county had knowledge, and was heard although not a party thereto, while the question may not' be res judicata as against the county in a subsequent.suit in which it is a party, under the doctrine of stare decisis the question should_ no longer be considered an open one.</p> <p>The decisions of this court in Utter v.t Franklin, 172 U. S. 416, and Mwfpky v. Utter, 186 U. S. 95, adhered to under the doctrine of stare decisis.</p>