Michigan Supreme Court, 1885

Stevens v. Carp River Iron Co.

Stevens v. Carp River Iron Co.
Michigan Supreme Court · Decided June 19, 1885 · Other, Sherwood
57 Mich. 427; 24 N.W. 160; 1885 Mich. LEXIS 819

Stevens v. Carp River Iron Co.

Opinion of the Court

Sherwood, J.

These [are] two cases in which judgments Iiave been taken by confession on notes purporting to be given by a corporation. No process was served on the corporation, and the authority to confess the judgment is given by the treasurer of the corporation. That the treasurer was ever ■empowered to give such authority is not shown. The control of corporate affairs is in its governing board. The treasurer has no implied power, as such, to consent to judgment against the corporation without the institution of suit. Such a power would be a dangerous one,’and it is not likely any governing board would ever confer it as a general unrestricted power. The law has certainly not done so.

*428The judgments are, therefore, without any basis whatever, and they must be reversed.

The other Justices concurred.

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