Bank of Cal. v. Dunn

California Supreme Court October 23, 1884

Bank of Cal. v. Dunn, 66 Cal. 38 (Cal. 1884)

4 P. 916; 1884 Cal. LEXIS 676

Opinion of the Court

The Court.

The Court below rendered judgment, that the defendant draw his warrant for the amount of an interest coupon on a bond issued under the Act of April 4, 1864. (Stat. 1863-4, p. 344.) We are of opinion that none of the matters presented on behalf of defendant are sufficient to justify the withholding of the warrant. The act above referred to pledged the faith of the State to the payment to the holder of the bonds mentioned therein of such interest as is involved in this action.

Judgment affirmed.

Reference

Full Case Name: BANK OF CALIFORNIA v. JOHN P. DUNN
Status: Published
Syllabus: Railroad Bonds—Interest Coupons—Liability of the State.—The bonds issued by the Central Pacific Railroad Company, under the Act of April 4, 1864, are valid, and the State is liable upon the interest coupons issued in accordance with the provisions of the act.