Summary

Portrait of David Josiah Brewer David Josiah Brewer Knox County v. Ninth National Bank…

If the bonds were issued under the general statute, and in pursuance of the vote of the people, they are payable without restriction as they fall due, and mandamus will lie to compel a levy sufficient to pay the judgment; if issued only under section 13 of the Missouri & Mississippi Railroad Company act, a special levy of not exceeding one twentieth of 1 per cent. of the assessed valuation for each year is all that can be enforced.
Source: Wikisource

Portrait of David Josiah Brewer David Josiah Brewer Knox County v. Ninth National Bank…

Persons acting publicly as officers of the corporation are to be presumed rightfully in office. Acts one by the corporation which presuppose the existence of other acts to make them legally operative are presumptive proofs of the latter. * * * If officers of the corporation openly exercise a power which presupposes a delegated authority for the purpose, and other corporate acts show that the corporation must have contemplated the legal existence of such authority, the acts of such officers will be deemed rightful, and the delegated authority will be presumed.
Source: Wikisource

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