Gray

Stone v. Gray

Good Law
10 Cal. App. 609·1909 Cal. App. LEXIS 322·103 P. 155
Court of Appeal of CaliforniaMay 17, 1909Civ. No. 596.California554 words

Opinion

Lead Opinion

Hall, J.

This is an appeal from a judgment in favor of plaintiff for the sum of $1,236.54.

The complaint is in two counts. The first count charges upon a promissory note executed by defendants to plaintiff’s assignor, Union Machine Company (a corporation), for the principal sum of $1,000, with interest at seven per cent per annum from its date January 28, 1906.

Prior to the conflagration of April, 1906, the note had been transferred to and left with the Germania National Bank for collection only, for account of the Union Machine .Company,, and was destroyed by said conflagration while in possession of the bank. Plaintiff, over the objection and exception of defendant, put in evidence an assignment of said note from said bank to the Union Machine Company. This assignment was under the seal of the corporation bank, and was signed by the vice-president and cashier. The objection to its introduction was that it was not shown that the officers signing on behalf of the bank had authority to assign the note. This objection was utterly without merit. The vice-president of the bank testified without objection that he and the cashier had such authority—and the seal of the corporation was itself…

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