The Appeal., 1897-09-25
What the Law Decides.

An insurance company which under
Its contract elects to. repair and fails
to do so is held, in Henderson VS.. Cres-
cent insurance company Q-a.), 35.~ !.
K. "A. 1856. to" be liable for. the cost Of
the repairs without reference to- the
amount Of the insurance, if the as
stared completes. the REPAIRS. -: . -.
THE right of ;:oank to- set off the
unmatured note of an insolvent deposi-
tor against the deposit is held, in
Thomas VS.. Exchange Bank of Angus
QoWa),. 35 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 o>notice until after 1t learned of the
depositors insolvency. :" -..2 -. Vs..
Applying the doctrine that loss or
injury is dueto the act Of God where it
is occasioned exclusively by natural
causes such as could not be prevented
by human care, skill and foresight #
is held, in VALID VS.. Pittsburg. Cincin-
natl, Chicago & st. Louis railroad COM
pany Qll), IS L. R. A: 1856, that an un-
precedented flood by reason of which
tie baggage of a passenger is swept
away is an act of God; but that where
unnecessary delay of 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 a CITY as the
trustees shall choose and in such sums
and proportions as he shall deem prom
Ell is held, in People VS.. Powers IN. W
So L. R. A. 502, to be unenforceab]e
because of the failure to designate or
describe the class or kind of: <beneA-
ciaries to whom distribution is prac-
t;cable. or who can with reasonable
certainty be Identified. The New York
laws of 1898, chapter 7O1, is held inap-
plicable to such trust previously cre-
ated under which the rights of prop
erty had become vested.
The existence of an. unpaid assess
ment against the shares eof. stock il a.
corporation is held, in Craig VS.. Hes
peria Land and Water company (Cah
35 l.. r. A. S06, insufficient to Justify
refusal to transfer. the stock upon fts
books into the name of another owner.
j The right Of the owners ola major.
ity of the stock in corporation to-
agree to be bound. by the will aofra;
majoritys of themselves in voting qthe
stock for term of FIVE yearsrso as. to-
keep the control OF the corporation
from passing to other persons is held,
in Smith VS.. San Francisco. & Northern
Pacific railroad company (Cal.), -35 l..
r. A.. 3O9, to be valid when it was made
by persons who united in purchasing
block of stock. ... 49,. =. ., ).
In order to render newly organized
corporation liable at common law for
the detts of an established corpora
tion or firm to whose business and
property it has succeeded it is held, in
Austin VS.. Tecumseh national bank
Neb), 35 L: R. A. 444, that it should.
in the absence Of special agreement,
afRrmatively appear that the transac-
ton is fraudulent as to creditors of
the old corporation. or that the new
corporation is in effect mere con-
t!Duation Of the former. <
Overdrafts of corporation which
was entirely owned by one. n ember Of
a banking firm are held, in Potts vs.
Schumacher tMd9 35 E.f r. a. S92, to
give no rights to the trustee of the in
solvent bank to share in the assets
Of the corporation until after the cred
itors Of the corporation have been paid.