Padgham
Padgham v. Inyo Marble Co.
Opinion
Lead Opinion
Plaintiff brought this action to recover certain sums of money alleged to he due on several assigned claims against the defendant corporation, one of which was based on a promissory, note for $5,000. The trial took place before the court sitting without a jury, and judgment was given in favor of plaintiff on all counts hut one, which related to the promissory note. With reference thereto the court found that the note was executed and delivered to R. H. Tune “by the officers of said corporation without authority and that in so executing and delivering said note, they acted in excess of their authority and there was no consideration whatsoever therefor”. Accordingly judgment on that count was rendered in favor of defendant, and plaintiff appeals therefrom.
A copy of the note was not set out in the complaint, nor was the original or a copy thereof produced at the trial, but it appears from the findings that the note was executed and delivered on or about December 31, 1926, that it bore seven per cent interest, and provided for the allowance of an attorney’s fee in case suit was brought to collect it. The circumstances leading up to the execution and delivery of the note, briefly…