Stevens v. Carp River Iron Co.

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

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.

Reference

Full Case Name
William Stevens v. Carp River Iron Co., John Burt and Alvin C. Burt. (Two Cases.)
Cited By
1 case
Status
Published