Courier Democrat. (Langdon, N.D.) 1891-1920, 1897-09-09
What tho Law Decidea

An insurance company which under
it's contract elects to repair and fails
to do so is held. in Henderson vs.. Cres-
cent insurance company la), IS. L.
R. A. 1856, to be liable for the cost OF
the repairs without reference to the
amount of the insurance, il the as
sured completes the repairs.
The right Of a uank to set off the
unmatured note Of an insolvent deposi-
tor against the deposit is held. in
Thomas VS.. Exchange Bank of Angus
Qowa). IS L. R. A. 379, to be superior
to the rights of the drawee of a check
on the deposit. Of which the bank had
no notice until after it learned of the
depos1tor's insolvency.
Applying the doctrine that loss OF
injury is due to the act of God where il
is occasioned exclusively by natural
causes such as could not be prevented
by human care, skill and foresight. IT
is held, in VALID VS.. Pittsburg, Cincin.
natl, Chicago & st. Louis railroad com.
pany Qll.), IS L. R. A. 1856, that an un.
precedented food by reason of which
the baggage of a passenger is swept
away is an act of God; but that where
unnecessary delay of a carrier made
the loss of the property by such food
possible the carrier is liable.
A trust under a will to DISPOSE OF
property among the charitable and
benevolent institutions of city as the
trustees shall choose and in such sums
and proportions as he shall deem prop.
Ell is held, in People VS.. Powers IN. W
IS L. R. A. 502, to be unenforceable
because of the failure to designate OF
describe the class or kind of benef-
Charles to whom distribution is prac-
t;cable. or who can with reasonable
certainty be identified. The New York
laws of 1898. chapter FOL, is held map
plicable to such trust previously ere.
ated under which the rights of prop.
erty had become vested.
The existence of an unpaid assess.
ment against the shares of stock in a
corporation is held, in Craig VS.. Hes
peria Land and Water company (Cal)
IS L. R. A. 306, insufficient to justify a
refusal to transfer the stock upon its
books into the name of another owner
The right of the owners of major
ity of the stock in a corporation to
agree to be bound by the will of a
majority eof themselves in voting the
stock for term of five years so as to
keep the control of the corporation
from passing to other persons is held
in Smith VS.. San Francisco E. Northern
Pacific railroad company (Cal.), IS L.
R. A. 300, to be valid when it was made
by persons who united in purchasing a
block of stock.
In order to render newly organized
corporation liable at common law for
the debts of an established corpora
ton or firm to whose business and
property it has succeeded it is held, in
Austin VS.. Tecumseh national bank
(Neb.), IS l.. R. A. 444, that it should,
in the absence of special agreement,
afhrmatively appear that the transact
ton is fraudulent as to creditors of
the old corporation, or that the new
corporation is in effect a mere con-
t!nuation of the former.
Overdrafts Of a corporation which
was entirely owned by one member OF
banking firm are held, in Potts VS..
Schumacher (Md.), IS L. R. A. 1892, to
give no rights to the trustee of the in
solvent bank to share in the assets
of the corporation until after the cred
ttors Of the corporation have been paid.