The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-01-16
IMPORTANT POINTS OF LAW.
HOW THE STATUTES VIEW MAT
TIERS AND BUSINESS f.
POINTS.
FACTS THAT MY BENEFIT YOU.
Homestead Rights and Laws Regulating
Corporations-Law That Will Be
New to Most Folks Who Do
Not Attend Court.

tarily performed for it.
Possession of a note endorsed by the
payee is evidence of title.
A corporation which has simply gone
out of business can be sued.
Taxes on land are not personal debt,
nor in the nature of personal debt.
An indorser of note before delivery is
liable to the holder as a joint maker.
A conditional acceptance of PROPOSE
ton by letter does not constitute con-
tract.
knowledge of an agent as to matters
connected with his agency is notice to the
principal.
The insolvency of the buyer is indis-
pensable to the exercise of the right of
stoppage in transit.
A voluntary payment by debtor to
the creditor of his creditor is no defense
to an action ON the debt.
In an action for the price of goods, the
amount for which they were subse
quently sold is inadmissible.
The right of buyer to sue for breach
of contract is not lost by refusal to accept
sellers offer to re-purchase.
Giving note for the price of goods is
not payment, but merely suspends the
sellers remedy until maturity of the
note.
The treasurer of a corporation is not
such an officer as is vested with implied
power to make negotiable paper in its
name.
Where one agrees to furnish certain
property for the use of his firm it does
not thereby become partnership prop
erty or assets.
A foreign corporation which ships
goods into a State on an order given it
out of such State does not do ! siness
in the State to which the goo J are
shipped.
An account book is inadmissible in evil
dence unless it be first shown that the
entries therein were made at the time of
the transactions which they tend to
prove.
One who pays for goods purchased
under contract that he may return any
portion found bad, may, on discovering
defects in the goods, recover payments
made.
Where a contractor abandons con-
tract, and the owner completes the
work, laborers and material men have a
lien to the extent of any balance on the
original contract price.
An attorney at law, to whom q debt
secured chattel mortgage is sent for col
lection, has no power to release the mort
gage without express authority from his
client
Where third person gives his note to
the one whose money has been en-
bezzled, for the amount of his civil dam
10 xrnr,f sc,x
as against public policy.
The record of a chattel mortgage exc
cuted in blank as to the amount, is suf-
ficient notice to put all persons on in
quiry, and takes precedence over a sub
sequent execution creditors lien.
An admission by the debtor that he
owes the debt that it has never been paid
and that he would have to pay it if de-
manded, is sufficient to remove the bar
of the statute of limitations.
A transaction by which property is Civ
Ell to a corporation, is binding so long as
it is not impeached by the corporation
or it's assignee, and it can be impeached
only for fraud upon the corporation.
But, if the corporation become insOlv-
ent, such an agreement does not pre-
vent unsatisfied judgment creditors of
the corporation from subjecting the I'M
paid balance on the stock to the payment
of their judgment.
An agreement between a corporation
and it's stockholders that the stock shall
be considered fully paid and non-assessa-
BILE, is binding on the corporation, and
prevents it from making any further calls
on the stockholders.
The receiver of corporation is bound
precisely as it is bound, and occupies
the relation to the stockholders that the
corporation itself, if waging a suit in its
own person, would occupy. This is true
although he represents also the credit
ors.
Capital stock being a trust fund, may
be followed by creditors in any court of
equity into the hands of every person
who is not bona fide purchaser. for
value, without notice; and such person
may be held as trustee to the extent of
the trust fund in his hands.
Where a travelling salesman is, by the
the terms of his contract, to be paid for
his services by a percentage upon the
amount of his sales, and he is prevented
by the wrongful act of his employer from
completing his contract, the measure of
damages is the amount he could have
made on his sales had he not been pre-
vented from completing it, and not the
value of his monthly services as sales
man generally.
w hNu buhh lCNClNcS IL uepOSlI anu
Internationally places the same to the
general credit of the depositor, it be-
comes liable on an implied contract to
pay his checks drawn against it when
presented, and it is against the general
policy of law to permit such bank, in
an action by the depositor to recover
money thus voluntarily placed to his
credit, to claim to be itself the owner of
such deposit.
An employer is not an insurer of the
safety and sufficiency of the tools, ma
chinery, or appliances furnished to the
employe for his use. nor is he guaran-
tor of the safety of the place where, or
upon, or about which the employee is re-
quired to work. The duty cast upon the
employer by the law is to use ordinary
and reasonable care to furnish safe and
sufficient tools, machinery and work
ing places. When he has done this he
has performed the full measure of his
duty.
The Worlds Fair award to DR.. Prices
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