260 Pa. 340 | Pa. | 1918
Opinion by
The plaintiff corporation’s business is that of an adjuster of fire losses for the assured; defendant is a manufacturing corporation with a factory located at Manayunk. On April 10, 1916, the factory building and contents were badly damaged by fire. Plaintiff’s president came the next morning and requested that his company
Defendant’s by-laws provide: “The president shall be the chief executive officer and head of the company, and in the recess of the board of directors shall have the general control and management of its business and affairs.” This agreement was made during such recess, and the court below held that it was within the power of the president. We agree with that conclusion. He was vested not only with the implied authority of the chief executive of the corporation, but also given large express powers. The urgent business of the company then was to adjust the fire loss, and the president might properly employ expert assistance for that purpose, as he might under like circumstances employ an attorney or a collection agency. Here the question is not whether the implied powers of the president would enable him to bind
The assignments of error are overruled and the judgment is affirmed.