Summary

Portrait of Noah Haynes Swayne Noah Haynes Swayne Whitney v. Wyman — Opinion of the Court

On the 3d of March, 1870, Lyman and Fairbanks, two of the directors, were authorized to settle with the plaintiff on the best terms they could obtain.
The court instructed the jury in substance, that the letter of the prudential committee of Feb. 1, 1870, bound the corporation and not the defendants, if there was then a corporation and the defendants were authorized by it to give the order, and that if the corporation had acted as such and exercised its franchises, then it was a corporation de facto, and that in such case any irregularity in its organization was immaterial.
Source: Wikisource

Portrait of Noah Haynes Swayne Noah Haynes Swayne Whitney v. Wyman — Opinion of the Court

The intent developed is alone material, and when that is ascertained it is conclusive. Where the principal is disclosed, and the agent is known to be acting as such, the latter cannot be made personally liable unless he agreed to be so.
Looking at the letter of the defendants of the 1st of February, 1869, and the answer of the plaintiff of the 10th of that month, we cannot doubt as to the understanding and meaning of both parties with respect to the point in question.
The former advised the latter of the progress made in organizing the corporation
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature