The St. Charles herald. [volume] (Hahnville, La.) 1873-1993, 1884-03-15
COMMERCIAL LAW.


Compiled Specially for the fEidland Indus
trial Gazette. SC. Louis, Mol
AGENCY.
An agent 10 buy wheat or other grain
must, in order to bind his principal who
furnishes in advance the funds to make
tho purchases, buy for cash. unless he
has express power to buy upon credit,
or unless the custom OF the trade Is to
buy upon credit. In the absence Of ex-
press authority or proof Of the custom
Of the trade to buy on credit, such agent
can not bind bis principal by pur-
chase upon credit Of person who Is
ignorant Of his real authority as be-
tween himself and his principal. The
power to sell implies q power 10 sell In
the usual way, and the right Of an agent
acting under such o general authority
TO sell upon credit depends upon the
fact of that being the usual mode OF
dealing in the particular trade In ques-
| tion.--Kamarousk VS.. Krumdick, SUI
preme Court of Wisconsin,. .,i
AGREEMENT NOT TO CONTINUE BUSINESS.
An agreement by a person employed
| by another not to carry on 4 similar
business at any time thereafter within q
certain area Is, ID the absence Of express
stipulation to the contrary, construed to
continue during the whole OF the con-
tractors lifetime, Notwithstanding the
employer has removed his business to
! another place, assigned Il to third ppr-
/ son, or retired from the business with
| out assigning it. The benefit Of such an
/ agreement, since Il adds value 10 the
/ good win Of the business, goes with tho
/ business on an assignment Of either the
good willH or the Abenelicial interest"
| In the business, and such agreement
may be enforced by the assignee, al
! though ne Is not specially mentioned In
! tho agreement Jaeoby VS.. Witmore,
English Court Of Appeals.
/ CHANGING SALARY.
| An election to and acceptance. Of
public Office, at fixed salary, does not
create contract SO that the salary can
/ not DO changed during the term Of such
Office. City councils have the power TO
change the salaryQi any officer elected
by them, orbyth Mayor and aldermen.
--Marden vs. Portsmouth,, Supreme
Court OF New Hampshire.
DEED AS MORTGAGE.
Where purchaser Of realty ut sher-
iff7s sale, being unable 10 pay the
amount Of the bid, borrows the amount
from another, and the shcriif's deed is
made to that other under an agreement
| that the said conveyance shall stand IS
security for said loan with interest, such
conveyance ID In law q NOR gage, and
equity will decree a re-conYeYance to
the borrower on payment Of the loan
Logue's appeal, Supreme Court Of Penn
sylvania. i5et #ltfE3
FALSE REPRESENTATION AS TO CREDIT.
Certain grain merchants wrote TO u
banker as follows; ~. II. bought sew
eral cars of corn from us which We will
ship to-day. How Is no -,all rightP
Please answer by return mail. j. q. !"
The answer the same day was: ''ln my
opinion j. II. is all right and will pay
for all grain he buys as soon as u Is on
n track He has good account with me.
L. G. CT DraftsfOr 81 800 were given
byJ. H., but were protested, and the
grain was not paid for, Action was
brought against the banker for damages
for fraudulently incorporating the
credit OF J. Fl. Held that damages
could not be awarded because lamong
! other reasons1 the defendant did not
make the representations In the way OF
imparting knowledge, butas an opinion
which was only his judgment Of the
financial standing Of the purchaser. =
Avery VS.. Chapman, Supreme Court OF
Iowa.
:, FRAUDULENT MoRTgA AGE. q.
S., being embarrassed in business,
with intent 10 hinder, delay or defraud
his creditors, executed and delivered to
, b. a mortgage upon certain real estate,
: and the latter received II with knowl-
Z edge of the condition and circumstances
l of the mortgagor. Held that the mort
{ rare was good as between the parties
to Il, though void rs to those whom Il
was intended to defraud.-Boneset w.
s Sullivan. MI ta i--n
, MUTUAL INsuRANCE.
. The charter OF a mutual company pro.
? ylded that the mode Of assessing mem
bers should be fixed by the bylaws.
Q The latter provided that when the board
of directors should order an assessment
; 1t should be prepared by the secretary,
$ signed and placed on file. Held that I
t paper unsigned and not setting forth
i clearly the nature Of the various abbre
j, waited entries made is not an assess
It ment 10 accord with the bylaws ans
: will not sustain the forfeiture of pol
icy for non-payment. Baker W. Citi
! zens' Mutual Fire Insurance Company
i, Supreme Court Of Michigan,
h NEGOTIABLE INSTRUMENT.
10 An instrument reads as follows; ''Fo
a value received I promise to pay to I'LL
u iah Pierce, or bearer, five hundred dol
g lars with interest, the same as saving
1T banks pay Held not d negotiable in
D, strument. There Is no certainty IN
promise to pay interest az the rate 9
IN the dividends Of savings banks. Nv M
70 we'll vs.. Winslow, Supreme Court
ID Massachusetts. .a
50 --s . s'----.-- 80
be 80 long as the weekly or milan
ID daily continues to give the local news
of will continue to merit and receive Il
be- support Of the community where 1t
- published, and need not fear its eli
n contemporary. One gives the loei
yn news and such news Of the world as
n. can: the other gives the news OF Il
in world and such local news as II ca
nv Each fills an important but differed
no sphere. The reader who wants to kno