111 Cal. 354 | Cal. | 1896
Appeal by the defendant, Lakeport Agricultural Park Association, from a judgment against it and an order denying its motion for a new trial in an action to foreclose a mortgage on real property.
The appeal from the judgment is taken more than one year from its entry, and is therefore ineffectual, and must be dismissed.
Upon the appeal from the order but one point is made—that the note and mortgage in suit were not made or authorized by the appellant corporation. The question really presented, however, is as to the propriety of the ruling of the court below upon the admissibility of the evidence offered to prove the authority of the officers of the corporation to execute the instruments in question, since, if properly admitted, it was amply sufficient to sustain the finding that the appellant both authorized and ratified their execution.
Appellant was indebted to the party from whom it had purchased certain real estate for a portion of the purchase price thereof, which it was called upon to pay immediately to avoid suit to foreclose a mortgage given to secure the same. A meeting of th'e directors of the corporation was held to devise means to meet said obligation, and a resolution was thereat adopted providing
The objection that the resolution purporting to authorize the execution of the note and mortgage is not sufficient in form to justify the acts of the officers of the corporation under it is untenable; but if otherwise, the subsequent ratification of the action of the president and secretary was equivalent to precedent authority. It was not necessary to specially plead such ratification; it was involved in the issue whether the instruments were executed by the corporation.
The other grounds of objection do not require special notice.
The appeal from the judgment is dismissed, and the order is affirmed.
Harrison, J., and Garoutte, J., concurred.