CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


TOWNSHIP OF EAST OAKLAND V. SKINNER, 94 U. S. 255 (1876)

Subscribe to Cases that cite 94 U. S. 255 RSS feed for this section

U.S. Supreme Court

Township of East Oakland v. Skinner, 94 U.S. 255 (1876)

Township of East Oakland v. Skinner

94 U.S. 255

Syllabus

1. This Court concurs in opinion with the Supreme Court of Illinois that the fifth section of the Act of the general assembly of that state approved Feb. 18, 1861, conferred no authority upon a municipal corporation to subscribe to the capital stock of the Paris & Decatur Railroad Company.

2. The Township of East Oakland subscribed to that capital stock without being thereunto authorized, and its bonds, bearing date April 20,1871, and reciting that they are issued in payment of such subscription, are void.

3. Where there is a total want of authority to issue municipal bonds, there can be no bona fide holding of them.

This was an action of assumpsit on fifty-four coupons cut from certain bonds issued by the Township of East Oakland, Ill., in payment of its subscription of $75,000 to the capital stock of the Paris & Decatur Railroad Company.

The election authorizing the subscription was held Feb. 1, 1870, and the subscription made Aug. 15 of that year. The bonds bear date April 20, 1871. The other facts and the provisions of the statute applicable to the case are set forth in the opinion of the Court.

The case was tried by the court below without a jury, and resulted in a judgment for the plaintiff for $9,207.32 and costs. The township thereupon brought the case here. chanroblesvirtualawlibrary

Page 94 U. S. 256





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED