113 Iowa 615 | Iowa | 1901
I. The facts found by the referee are not disputed, and, in so far as they relate to the item in controversy, are substantially as follows: In 1883 the. defendant company was incorporated with a capital stock of 1,000 shares of $25 each, 924'of which were issued; John
II. Appellant’s counsel state their contention as follows: “We now insist the general manager of a corporation, nor any other person, cannot receive compensation for services performed, unless he was employed by a board of directors of such corporation, and the compensation agreed on prior to the performance of any services. To our mind, this matter has been passed on by the supreme court of our state as well as others.” Bank v. Elliott, 55 Iowa, 104, is cited, and we think it fairly conclusive on-the question then under consideration.' It will be observed that this claim is not based upon contract, but upon a quantum meruit. Elliott was vice president of the plaintiff bank, and sought to show an agreement between the directors that he should receive a yearly salary of $2,000. He also sought to sho-w another agreement, under which he claimed the right to recover. He sought to recover for the performance of the ordinary duties of'vice president. This court said: “First, We understand the rule to be, when an officer of a corporation performs the usual and ordinary duties of his office as defined by the charter or by-laws, he cannot recover compensation therefor unless it has been so especially agreed.