Wilkes County v. Coler

Citations

• 180 U.S. 506
• 21 S. Ct. 458
• 45 L. Ed. 642
• 1901 U.S. LEXIS 1324

Syllabus

<p>The decisions of the highest court of a State upon the question whether a particular act was passed in such manner as to become, under the state constitution, a law, should be accepted and followed by the Federal courts.</p> <p>The principle reaffirmed that the recital in municipal bonds of a wrong act as authority for their being issued does not preclude a holder of such bond from showing that independently of such act there was power to issue the bonds.</p> <p>The rule reaffirmed that the question arising in a suit in a Federal court of the power of a municipal corporation under existing laws to make negotiable securities is to be determined by the law as judicially declared by the highest court of the State at the time the securities were issued, and that the rights and obligations of parties accruing under such asíate of the law would not be affected by a different course of judicial decisions subsequently rendered any more than by subsequent legislation.</p>