Source: https://supreme.justia.com/cases/federal/us/236/101/
Timestamp: 2019-04-20 10:34:50+00:00

Document:
No exception or bill of exception is necessary to open a question of law apparent on the record where the record shows no waiver of rights of plaintiffs in error. Nalle v. Oyster, 230 U. S. 165.
no exception or bill of exceptions is necessary to open a question of law already apparent on the record, and there is nothing in the record that indicates a waiver of the defendant's rights. Therefore we must consider the merits of the defense. Nalle v. Oyster, 230 U. S. 165.
it is contemplated that these instruments may be sold to raise money for the purpose named. But, however narrowly we may construe the power of municipal corporations in this respect, when they are authorized to raise money by the sale of bonds, we must take it that they are authorized to put the bonds in the form that would be almost a necessary condition to obtaining a purchaser -- the usual form in which municipal bonds are put upon the market. Gunnison County Commissioners v. Rollins, 173 U. S. 255, 173 U. S. 276. What is true about bonds is true about certificates of indebtedness. Indeed, it is difficult to see any distinction between the two as they are commonly known to the business world. The essence of each is that they contain a promise under the seal of the corporation to pay a certain sum to order or to bearer. We are of opinion that the Board of County Commissioners was authorized to issue certificates in the negotiable form. Carter County v. Sinton, 120 U. S. 517, 120 U. S. 525; Gelpcke v. Dubuque, 1 Wall. 175, 68 U. S. 203; Cadillac v. Woonsocket Savings Institution, 58 F. 935, 937; Ashley v. Board of Supervisors, 60 F. 55, 67; D'Esterre v. Brooklyn, 90 F. 586, 590; Dillon, Munic.Corp., 5th ed. § 882.

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 § 882