Horace Gray, Hopper v. Covington — Opinion of the Court
“ But the circumstances thus spoken of were the preliminary facts requisite to the exercise of the power, not the limits, fixed by law, of the objects and purposes for which the power could be exercised at all. ”
Horace Gray, Hopper v. Covington — Opinion of the Court
“ A demurrer admits only facts, and facts well pleaded. The town having but a limited authority to issue bonds for certain purposes, it is not enough for the plaintiff to aver in general terms that the town was authorized to issue the bonds in suit, but he must state the facts which bring the case within the special authority. ”
Horace Gray, Hopper v. Covington — Opinion of the Court
“ Justice CLIFFORD in later cases, that 'when a corporation has power, under any circumstances, to issue negotiable securities, the bona fide holder has a right to presume they were issued under the circumstances which give the requisite authority, and they are no more liable to be impeached for any infirmity in the hands of such a holder than any other commercial paper.' Supervisors v. ”
